Cardinal Health (NYSE:CAH) Sets New 52-Week High – Here’s What Happened

Shares of Cardinal Health, Inc. (NYSE:CAH) hit a new 52-week high on Monday . The stock traded as high as $241.86 and last traded at $234.5040, with a volume of 89966 shares. The stock had previously closed at $238.94.

Analyst Ratings Changes

A number of research firms recently issued reports on CAH. Morgan Stanley boosted their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings cut shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Robert W. Baird set a $248.00 price objective on Cardinal Health in a report on Friday, May 1st. Finally, Wells Fargo & Company cut 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. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $247.80.

Cardinal Health Stock Up 0.8%

The stock has a market cap of $56.06 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.49. The company’s fifty day moving average is $210.43 and its 200 day moving average is $212.35.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (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 company had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the previous 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 analysts expect 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. Investors of record on Wednesday, July 1st will be issued a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. 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. Cardinal Health’s payout ratio is currently 31.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. grew its stake in shares of 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 in the last quarter. HF Advisory Group LLC lifted its position in Cardinal Health by 0.9% during the 4th quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after acquiring an additional 49 shares in the last quarter. Kathmere Capital Management LLC lifted its position in Cardinal Health by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock worth $896,000 after acquiring an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Cardinal Health by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after acquiring an additional 50 shares during the period. Finally, V Square Quantitative Management LLC grew its position in Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock valued at $423,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.