Meeder Asset Management Inc. Has $555,000 Stake in Cardinal Health, Inc. $CAH

Meeder Asset Management Inc. lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 96.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,628 shares of the company’s stock after selling 74,819 shares during the period. Meeder Asset Management Inc.’s holdings in Cardinal Health were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Norges Bank bought a new stake in Cardinal Health during the 4th quarter worth about $790,344,000. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after acquiring an additional 3,511,579 shares in the last quarter. Marshall Wace LLP increased its position in shares of Cardinal Health by 1,328.1% in the fourth quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock valued at $195,484,000 after acquiring an additional 884,648 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Cardinal Health by 7,053.4% in the first quarter. Bessemer Group Inc. now owns 750,038 shares of the company’s stock valued at $158,491,000 after acquiring an additional 739,553 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Cardinal Health by 3,829.1% during the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock worth $149,504,000 after acquiring an additional 708,995 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of several recent research reports. Citigroup reissued a “buy” rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Morgan Stanley upped their price objective on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. UBS Group increased their price objective on Cardinal Health from $260.00 to $274.00 and gave the company a “buy” rating in a report on Monday. Finally, Wells Fargo & Company decreased their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $250.07.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $225.76 on Tuesday. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $243.21. The company has a market capitalization of $52.88 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. The company has a 50-day simple moving average of $217.11 and a 200 day simple moving average of $213.94.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the previous year, the firm earned $2.35 EPS. The firm’s 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. As a group, equities analysts forecast that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

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

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.