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

Summit Global Investments lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 42.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after purchasing an additional 617,775 shares in the last quarter. State Street Corp grew its holdings in shares of Cardinal Health by 1.8% in the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after acquiring an additional 221,497 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cardinal Health by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after acquiring an additional 43,924 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after acquiring an additional 3,511,579 shares during the last quarter. Finally, Norges Bank bought a new stake in Cardinal Health during the fourth quarter worth about $790,344,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $225.76 on Tuesday. The business has a fifty day simple moving average of $217.11 and a two-hundred day simple moving average of $213.94. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21. The company has a market capitalization of $52.88 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.79 by $0.38. The firm 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%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.5158 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.50%.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Citigroup reissued a “buy” rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Finally, TD Cowen upped their target price on shares of Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $250.07.

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.