Lansforsakringar Fondforvaltning AB publ Has $19.07 Million Holdings in Cardinal Health, Inc. $CAH

Lansforsakringar Fondforvaltning AB publ boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 17.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 90,232 shares of the company’s stock after purchasing an additional 13,600 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Cardinal Health were worth $19,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health in the 4th quarter valued at $26,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the 4th quarter valued at $27,000. Palladiem LLC bought a new position in Cardinal Health during the 4th quarter valued at $28,000. Finally, Elyxium Wealth LLC purchased a new position in Cardinal Health during the 4th quarter worth $34,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Up 0.7%

Shares of Cardinal Health stock opened at $237.87 on Wednesday. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $240.93. The company’s 50 day moving average is $207.00 and its 200 day moving average is $210.93. The company has a market cap of $55.71 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its earnings results 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. The business had revenue of $60.94 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company 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 $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is 31.50%.

Wall Street Analysts Forecast Growth

CAH has been the subject of several recent analyst reports. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a report on Friday, May 1st. Evercore reduced their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company dropped their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.93.

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.