Panagora Asset Management Inc. Has $49.70 Million Holdings in Cardinal Health, Inc. $CAH

Panagora Asset Management Inc. raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 179.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 241,850 shares of the company’s stock after buying an additional 155,310 shares during the quarter. Panagora Asset Management Inc.’s holdings in Cardinal Health were worth $49,700,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. lifted its stake in Cardinal Health by 0.5% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after buying an additional 48 shares during the period. HF Advisory Group LLC lifted its stake in Cardinal Health by 0.9% in the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock valued at $1,074,000 after buying an additional 49 shares during the period. Hillsdale Investment Management Inc. lifted its stake in Cardinal Health by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after buying an additional 50 shares during the period. Generali Asset Management SPA SGR lifted its stake in Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after buying an additional 51 shares during the period. Finally, Stephens Inc. AR lifted its stake in Cardinal Health by 0.9% in the fourth quarter. Stephens Inc. AR now owns 5,951 shares of the company’s stock valued at $1,223,000 after buying an additional 52 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. William Blair assumed coverage on Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Citigroup lowered their target price on Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company lowered their target price on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.93.

Cardinal Health Stock Up 1.2%

Shares of NYSE:CAH opened at $226.52 on Tuesday. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $233.60. The stock’s 50 day moving average is $203.46 and its 200-day moving average is $208.92. The firm has a market capitalization of $53.05 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.22 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last issued its 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. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. Cardinal Health’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities research analysts anticipate 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. Investors of record on Wednesday, July 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio is currently 31.19%.

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.