California Public Employees Retirement System Grows Stock Holdings in Cardinal Health, Inc. $CAH

California Public Employees Retirement System increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 663,948 shares of the company’s stock after buying an additional 19,368 shares during the period. California Public Employees Retirement System’s holdings in Cardinal Health were worth $140,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its stake in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after acquiring an additional 280 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Cardinal Health in the 2nd quarter worth about $1,935,000. Cerity Partners LLC boosted its stake in Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its stake in Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after purchasing an additional 2,646 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $228.57 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The stock has a 50-day moving average of $216.25 and a 200 day moving average of $213.76. The company has a market capitalization of $53.53 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, July 1st. Cardinal Health’s payout ratio is currently 31.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America raised their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. TD Cowen upped their target price on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Evercore cut their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.13.

Cardinal Health 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.