Janney Montgomery Scott LLC Sells 19,379 Shares of Cardinal Health, Inc. $CAH

Janney Montgomery Scott LLC decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 176,906 shares of the company’s stock after selling 19,379 shares during the period. Janney Montgomery Scott LLC’s holdings in Cardinal Health were worth $37,382,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after purchasing an additional 617,775 shares in the last quarter. State Street Corp boosted its position in shares of Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after buying an additional 221,497 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after buying an additional 43,924 shares in the last quarter. Wellington Management Group LLP raised its position in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after buying an additional 3,511,579 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Cardinal Health during the 4th quarter valued at about $790,344,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup reduced their price target on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. William Blair started coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Stock Down 0.0%

NYSE CAH opened at $237.89 on Monday. The company has a 50-day moving average price of $206.07 and a 200-day moving average price of $210.39. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $240.44. The firm has a market capitalization of $55.72 billion, a P/E ratio of 36.38, a PEG ratio of 1.30 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The company had revenue of $60.94 billion for 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 firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

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