Summit Global Investments Has $3.09 Million Stock Holdings in Cardinal Health, Inc. $CAH

Summit Global Investments decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 42.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 14,603 shares of the company’s stock after selling 10,602 shares during the quarter. Summit Global Investments’ holdings in Cardinal Health were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Cardinal Health during the fourth quarter worth about $26,000. Bank of Jackson Hole Trust bought a new position in Cardinal Health during the fourth quarter worth about $27,000. Jones Financial Companies Lllp raised its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares in the last quarter. Finally, Palladiem LLC acquired a new stake in Cardinal Health in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Evercore dropped their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. reduced their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, UBS Group raised their price objective on Cardinal Health from $260.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.07.

Cardinal Health Stock Down 1.2%

Shares of Cardinal Health stock opened at $225.76 on Tuesday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21. The company has a market capitalization of $52.88 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 1.12 and a beta of 0.49. The firm’s 50-day moving average price is $217.11 and its two-hundred day moving average price is $213.94.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating 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 company 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 company earned $2.35 EPS. The business’s revenue for the quarter 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. On average, sell-side analysts expect that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given 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 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 31.50%.

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.