M&T Bank Corp Increases Stock Position in Cardinal Health, Inc. $CAH

M&T Bank Corp raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,681 shares of the company’s stock after purchasing an additional 2,844 shares during the period. M&T Bank Corp’s holdings in Cardinal Health were worth $5,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CAH. Strategy Asset Managers LLC purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $775,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after buying an additional 5,030 shares during the period. Versor Investments LP purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $2,090,000. Atle Fund Management AB lifted its stake in shares of Cardinal Health by 13.1% during the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after buying an additional 3,500 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Cardinal Health by 328.3% during the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock valued at $133,741,000 after buying an additional 494,731 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 2.8%

NYSE:CAH opened at $191.41 on Thursday. The company has a market cap of $44.83 billion, a P/E ratio of 29.27, a P/E/G ratio of 1.17 and a beta of 0.53. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $233.60. The firm’s 50 day moving average is $212.52 and its two-hundred day moving average is $206.74.

Cardinal Health (NYSE:CAH) last posted its quarterly 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. 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%. Cardinal Health’s revenue was up 11.0% on a year-over-year basis. 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. Research analysts forecast that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.5158 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health’s payout ratio is 31.19%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAH. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research note on Friday, May 1st. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. Wells Fargo & Company reduced their price objective 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. Leerink Partners reissued an “outperform” rating and set a $275.00 price objective on shares of Cardinal Health in a research note on Monday, March 9th. Finally, Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned 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 target price of $241.80.

About Cardinal Health

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.