Cardinal Health, Inc. $CAH Shares Sold by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,500 shares of the company’s stock after selling 2,830 shares during the period. LGT Fund Management Co Ltd.’s holdings in Cardinal Health were worth $5,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAH. Aventura Private Wealth LLC purchased a new stake in shares of Cardinal Health during the fourth quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Cardinal Health in the 4th quarter worth $26,000. Bank of Jackson Hole Trust acquired a new stake in Cardinal Health during the 4th quarter worth about $27,000. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Finally, Palladiem LLC purchased a new stake in Cardinal Health during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. William Blair began coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. TD Cowen upped their price objective on shares of Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Finally, Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.13.

Cardinal Health Trading Up 0.8%

CAH traded up $1.77 on Friday, reaching $235.54. The stock had a trading volume of 2,842,646 shares, compared to its average volume of 2,287,700. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21. The business’s 50-day moving average price is $212.35 and its two-hundred day moving average price is $212.99. The company has a market cap 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.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the company 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. As a group, analysts predict that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This is an increase 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 dividend payout ratio is 31.50%.

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.