Wedge Capital Management L L P NC Sells 37,487 Shares of Cardinal Health, Inc. $CAH

Wedge Capital Management L L P NC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 18.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,185 shares of the company’s stock after selling 37,487 shares during the period. Wedge Capital Management L L P NC owned about 0.07% of Cardinal Health worth $25,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Candriam S.C.A. grew its position in Cardinal Health by 5.0% during the first quarter. Candriam S.C.A. now owns 25,020 shares of the company’s stock worth $3,447,000 after buying an additional 1,193 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Cardinal Health by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company’s stock valued at $227,877,000 after acquiring an additional 52,714 shares during the period. Summit Financial LLC lifted its position in shares of Cardinal Health by 16.6% during the 1st quarter. Summit Financial LLC now owns 2,378 shares of the company’s stock valued at $328,000 after acquiring an additional 338 shares during the period. CW Advisors LLC grew its holdings in shares of Cardinal Health by 2.5% during the 1st quarter. CW Advisors LLC now owns 8,091 shares of the company’s stock worth $1,115,000 after purchasing an additional 194 shares in the last quarter. Finally, Norinchukin Bank The increased its position in shares of Cardinal Health by 15.7% in the first quarter. Norinchukin Bank The now owns 12,973 shares of the company’s stock worth $1,787,000 after purchasing an additional 1,762 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CAH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Jefferies Financial Group set a $220.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a report on Monday, November 3rd. Wells Fargo & Company increased their price target on shares of Cardinal Health from $185.00 to $221.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research report on Tuesday, November 18th. Finally, Mizuho upped their target price on Cardinal Health from $170.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.00.

Cardinal Health Price Performance

CAH stock opened at $202.80 on Friday. The stock has a market cap of $48.19 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 1.48 and a beta of 0.63. The company has a 50 day simple moving average of $191.05 and a 200 day simple moving average of $168.28. Cardinal Health, Inc. has a 1 year low of $116.03 and a 1 year high of $214.93.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio is presently 30.77%.

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.