Te Ahumairangi Investment Management Ltd Sells 9,327 Shares of Cardinal Health, Inc. $CAH

Te Ahumairangi Investment Management Ltd reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 27.9% in the 4th quarter, Holdings Channel reports. The firm owned 24,114 shares of the company’s stock after selling 9,327 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Cardinal Health were worth $4,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at $25,000. Jones Financial Companies Lllp lifted its position 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 worth $27,000 after buying an additional 14,034 shares during the last quarter. Palladiem LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth $28,000. JPL Wealth Management LLC acquired a new stake in Cardinal Health in the third quarter valued at about $31,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Cardinal Health in the third quarter valued at about $31,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley boosted their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Leerink Partners restated an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a research note on Monday, March 9th. TD Cowen lifted their price target on shares of Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Finally, Citigroup cut their target price on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.93.

Cardinal Health Price Performance

NYSE:CAH opened at $221.58 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60. The company has a market cap of $51.90 billion, a PE ratio of 33.88, a P/E/G ratio of 1.18 and a beta of 0.52. The firm’s 50 day simple moving average is $202.98 and its 200 day simple moving average is $208.74.

Cardinal Health (NYSE:CAH) last released its quarterly 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 firm had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities research analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) 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.