Renaissance Technologies LLC Has $72.86 Million Position in Cardinal Health, Inc. $CAH

Renaissance Technologies LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 55.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 344,825 shares of the company’s stock after selling 429,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Cardinal Health were worth $72,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Cardinal Health in the 4th quarter valued at about $790,344,000. Wellington Management Group LLP grew its stake in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Cardinal Health by 1,328.1% during the fourth quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock valued at $195,484,000 after purchasing an additional 884,648 shares during the last quarter. Bessemer Group Inc. increased its holdings 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 purchasing an additional 739,553 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after purchasing an additional 617,775 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.9%

CAH stock opened at $227.96 on Friday. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $243.21. The company has a market cap of $53.39 billion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. The business’s fifty day moving average is $219.98 and its 200-day moving average is $214.43.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 EPS 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 during the quarter, compared to analysts’ expectations of $62.10 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The firm’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. Research analysts anticipate that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

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

Analyst Ratings Changes

CAH has been the topic of a number of recent research reports. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Evercore dropped their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Robert W. Baird set a $248.00 price objective on Cardinal Health in a research report on Friday, May 1st. Finally, Mizuho boosted their price objective on Cardinal Health from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.73.

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.