Empyrean Capital Partners LP Sells 109,600 Shares of Cardinal Health, Inc. $CAH

Empyrean Capital Partners LP reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 30.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 247,800 shares of the company’s stock after selling 109,600 shares during the period. Cardinal Health comprises 1.8% of Empyrean Capital Partners LP’s portfolio, making the stock its 18th biggest position. Empyrean Capital Partners LP’s holdings in Cardinal Health were worth $50,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Cardinal Health by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after acquiring an additional 617,775 shares during the last quarter. State Street Corp raised its position in Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after purchasing an additional 221,497 shares in the last quarter. Geode Capital Management LLC raised its position in Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after purchasing an additional 43,924 shares in the last quarter. Wellington Management Group LLP raised its position in Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Finally, Norges Bank bought a new stake in Cardinal Health during the 4th quarter valued at $790,344,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAH. TD Cowen lifted their target price on Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Monday. Morgan Stanley lifted their target price on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. Finally, Barclays lifted their target price on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $246.93.

Cardinal Health Trading Down 0.6%

CAH opened at $226.29 on Thursday. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 1.25 and a beta of 0.52. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $233.60. The stock has a fifty day moving average price of $204.01 and a 200-day moving average price of $209.11.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. The firm had revenue of $60.94 billion during the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities research analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is presently 31.19%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.