Sterling Capital Management LLC Sells 3,035 Shares of Cardinal Health, Inc. $CAH

Sterling Capital Management LLC lessened its holdings in Cardinal Health, Inc. (NYSE:CAH) by 38.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,860 shares of the company’s stock after selling 3,035 shares during the period. Sterling Capital Management LLC’s holdings in Cardinal Health were worth $1,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares in the last quarter. Finally, Palladiem LLC acquired a new stake in Cardinal Health in the 4th quarter valued at $28,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Leerink Partners reiterated an “outperform” rating and set a $275.00 price objective on shares of Cardinal Health in a research note on Monday, March 9th. William Blair assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a research report on Friday, May 1st. Finally, Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.93.

Cardinal Health Stock Up 0.7%

Shares of NYSE CAH opened at $237.87 on Wednesday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $240.93. The firm’s 50-day simple moving average is $207.00 and its 200 day simple moving average is $210.93. The company has a market cap of $55.71 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $0.5158 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 31.50%.

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.