Cardinal Health, Inc. $CAH Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,154 shares of the company’s stock after selling 3,362 shares during the period. Cardinal Health accounts for about 1.1% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 17th largest position. Convergence Investment Partners LLC’s holdings in Cardinal Health were worth $5,375,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Strategy Asset Managers LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth about $775,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after acquiring an additional 5,030 shares during the period. Versor Investments LP purchased a new position in shares of Cardinal Health during the 3rd quarter worth about $2,090,000. Atle Fund Management AB lifted its holdings in shares of Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after acquiring an additional 3,500 shares during the period. Finally, Machina Capital S.A.S. lifted its holdings in shares of Cardinal Health by 248.0% during the 3rd quarter. Machina Capital S.A.S. now owns 27,054 shares of the company’s stock worth $4,246,000 after acquiring an additional 19,280 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

NYSE CAH opened at $195.10 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60. The company’s 50 day moving average price is $206.96 and its 200 day moving average price is $207.79. The firm has a market capitalization of $45.69 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.15 and a beta of 0.53.

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 net margin of 0.62% and a negative return on equity of 92.61%. The firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same quarter last year, the firm posted $2.35 earnings per share. Cardinal Health’s revenue for the quarter 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. Sell-side analysts forecast that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued 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 annualized dividend and a yield of 1.1%. Cardinal Health’s payout ratio is 31.19%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup cut 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. Barclays increased their price objective on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. William Blair assumed coverage on shares of Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company cut 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.80.

Cardinal Health Company 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.