Principal Financial Group Inc. Purchases 4,300 Shares of Cardinal Health, Inc. $CAH

Principal Financial Group Inc. increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,833 shares of the company’s stock after acquiring an additional 4,300 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Cardinal Health worth $61,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Chicago Partners Investment Group LLC boosted its stake in shares of Cardinal Health by 87.9% during the first quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the company’s stock valued at $468,000 after purchasing an additional 1,091 shares in the last quarter. AMF Tjanstepension AB boosted its position in Cardinal Health by 2.8% during the 1st quarter. AMF Tjanstepension AB now owns 170,668 shares of the company’s stock valued at $36,064,000 after acquiring an additional 4,646 shares in the last quarter. J. Safra Sarasin Holding AG bought a new stake in Cardinal Health during the 1st quarter valued at $2,140,000. Procyon Advisors LLC increased its holdings in shares of Cardinal Health by 33.3% in the 1st quarter. Procyon Advisors LLC now owns 22,691 shares of the company’s stock valued at $4,795,000 after acquiring an additional 5,666 shares during the period. Finally, Global Assets Advisory LLC raised its position in shares of Cardinal Health by 10.8% in the 1st quarter. Global Assets Advisory LLC now owns 1,741 shares of the company’s stock worth $368,000 after acquiring an additional 170 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 1.8%

NYSE CAH opened at $228.88 on Friday. The company has a fifty day simple moving average of $215.36 and a two-hundred day simple moving average of $213.66. The stock has a market cap of $53.61 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.10 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the previous year, the company earned $2.35 earnings per share. The business’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, sell-side analysts forecast 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. Stockholders of record on Wednesday, July 1st were issued a $0.5158 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, July 1st. Cardinal Health’s dividend payout ratio is currently 31.50%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAH. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Evercore lowered their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley lifted their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.13.

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.