Kornitzer Capital Management Inc. KS Sells 5,000 Shares of Cardinal Health, Inc. $CAH

Kornitzer Capital Management Inc. KS lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 27.5% during the 1st quarter, HoldingsChannel reports. The firm owned 13,164 shares of the company’s stock after selling 5,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Cardinal Health were worth $2,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC boosted its holdings in shares of Cardinal Health by 1,291,960.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 129,206 shares of the company’s stock worth $27,303,000 after buying an additional 129,196 shares during the period. Equitable Trust Co. raised its holdings in Cardinal Health by 34.8% in the 1st quarter. Equitable Trust Co. now owns 3,188 shares of the company’s stock worth $674,000 after acquiring an additional 823 shares during the period. Whipplewood Advisors LLC lifted its position in Cardinal Health by 422.0% during the 1st quarter. Whipplewood Advisors LLC now owns 522 shares of the company’s stock worth $110,000 after acquiring an additional 422 shares during the last quarter. Mosaic Family Wealth Partners LLC lifted its position in Cardinal Health by 18.3% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 1,460 shares of the company’s stock worth $308,000 after acquiring an additional 226 shares during the last quarter. Finally, Harold Davidson & Associates Inc. bought a new stake in Cardinal Health during the first quarter valued at about $1,647,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.8%

CAH stock traded up $1.77 during trading on Friday, reaching $235.54. 2,842,646 shares of the stock were exchanged, compared to its average volume of 2,287,700. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $243.21. The company has a market capitalization of $55.16 billion, a P/E ratio of 36.01, a price-to-earnings-growth ratio of 1.16 and a beta of 0.49. The stock has a 50 day simple moving average of $212.35 and a 200-day simple moving average of $212.99.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The firm had revenue of $60.94 billion during the quarter, compared to analysts’ expectations of $62.10 billion. During the same quarter in the prior year, the firm posted $2.35 EPS. The company’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 predict that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. This is a positive change 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%. Cardinal Health’s dividend payout ratio is currently 31.50%.

Wall Street Analyst Weigh In

CAH has been the topic of several research analyst reports. Morgan Stanley raised their price target on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Citigroup reaffirmed a “buy” rating on shares of Cardinal Health in a report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their price target on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.13.

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.