Cardinal Health, Inc. $CAH Holdings Cut by Renaissance Group LLC

Renaissance Group LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 181,052 shares of the company’s stock after selling 30,774 shares during the period. Cardinal Health accounts for about 1.5% of Renaissance Group LLC’s holdings, making the stock its 16th biggest position. Renaissance Group LLC’s holdings in Cardinal Health were worth $37,206,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB grew its stake in shares of Cardinal Health by 328.3% in the 4th quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock valued at $133,741,000 after buying an additional 494,731 shares in the last quarter. Victory Capital Management Inc. raised its position in Cardinal Health by 44.9% during the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after acquiring an additional 707,495 shares in the last quarter. Public Sector Pension Investment Board grew its position in Cardinal Health by 66.7% in the third quarter. Public Sector Pension Investment Board now owns 30,007 shares of the company’s stock worth $4,710,000 after acquiring an additional 12,003 shares in the last quarter. Procyon Advisors LLC increased its stake in shares of Cardinal Health by 78.7% during the 4th quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock worth $3,499,000 after purchasing an additional 7,499 shares during the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at $9,897,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 1.5%

CAH stock opened at $215.77 on Thursday. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $233.60. The company has a market cap of $50.54 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.52. The business’s 50-day simple moving average is $202.77 and its 200 day simple moving average is $208.66.

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. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared 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. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.06 annualized dividend and a yield of 1.0%. Cardinal Health’s payout ratio is presently 31.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CAH shares. Morgan Stanley upped their price objective on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Barclays raised their target price on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Argus upped their price target on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Finally, Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cardinal Health in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $246.93.

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.