North Dakota State Investment Board Takes Position in Cardinal Health, Inc. $CAH

North Dakota State Investment Board bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,184 shares of the company’s stock, valued at approximately $1,682,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Wellington Management Group LLP boosted its stake in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Cardinal Health by 141.4% in the 3rd quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock valued at $302,332,000 after purchasing an additional 1,128,358 shares in the last quarter. Barclays PLC boosted its stake in shares of Cardinal Health by 109.3% in the 3rd quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after purchasing an additional 827,446 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Cardinal Health by 3,829.1% in the 4th quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock valued at $149,504,000 after purchasing an additional 708,995 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after purchasing an additional 707,495 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.3%

Shares of NYSE:CAH opened at $200.31 on Wednesday. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $233.60. The company’s 50-day moving average price is $206.29 and its two-hundred day moving average price is $208.61. The firm has a market cap of $46.91 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.19 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) 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 company had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the prior year, the company posted $2.35 EPS. The company’s 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, equities analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 31.19%.

Analysts Set New Price Targets

Several brokerages have recently commented on CAH. Barclays boosted their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, May 4th. Jefferies Financial Group increased their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Wells Fargo & Company decreased their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, Citigroup decreased their price objective on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.80.

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.