PNC Financial Services Group Inc. Purchases 2,621 Shares of Cardinal Health, Inc. $CAH

PNC Financial Services Group Inc. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 82,950 shares of the company’s stock after purchasing an additional 2,621 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $17,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% during 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. Bank of Jackson Hole Trust purchased a new position in shares of Cardinal Health during the 4th quarter valued at about $27,000. Palladiem LLC bought a new stake in Cardinal Health in the 4th quarter worth approximately $28,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in shares of Cardinal Health in the 1st quarter valued at $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $227.96 on Friday. The company’s 50-day moving average is $219.98 and its 200 day moving average is $214.43. The stock has a market capitalization of $53.39 billion, a P/E ratio of 34.86, a P/E/G ratio of 1.11 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21.

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 firm had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter in the prior year, the business earned $2.35 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Analysts Set New Price Targets

Several analysts have issued reports on CAH shares. UBS Group upped their price target on shares of Cardinal Health from $260.00 to $274.00 and gave the company a “buy” rating in a research report on Monday. William Blair started coverage on Cardinal Health in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Citigroup raised their target price on shares of Cardinal Health from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday. Finally, Bank of America raised their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.73.

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.