Cardinal Health, Inc. $CAH Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,393,799 shares of the company’s stock after selling 47,099 shares during the period. Bank of New York Mellon Corp’s holdings in Cardinal Health were worth $286,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Aventura Private Wealth LLC purchased a new stake in Cardinal Health during the 4th quarter worth $25,000. Jones Financial Companies Lllp increased its stake in 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 period. JPL Wealth Management LLC purchased a new stake in Cardinal Health during the 3rd quarter worth $31,000. Turning Point Benefit Group Inc. purchased a new stake in Cardinal Health during the 3rd quarter worth $31,000. Finally, Cape Investment Advisory Inc. increased its stake in Cardinal Health by 61.1% during the 3rd quarter. Cape Investment Advisory Inc. now owns 211 shares of the company’s stock worth $33,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $201.68 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60. The company’s 50-day simple moving average is $202.64 and its 200-day simple moving average is $208.59. The stock has a market capitalization of $47.24 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.07 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. During the same quarter last year, the company posted $2.35 earnings per share. The company’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. As a group, research analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is 31.19%.

Analyst Ratings Changes

Several research firms recently issued reports on CAH. Mizuho lifted their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Evercore dropped their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley lifted their price target on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company dropped their price target on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.80.

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.