Cardinal Health, Inc. $CAH Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,357 shares of the company’s stock after selling 49,329 shares during the period. Pictet Asset Management Holding SA owned approximately 0.08% of Cardinal Health worth $41,263,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Redhawk Wealth Advisors Inc. raised its holdings in Cardinal Health by 0.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock worth $1,902,000 after buying an additional 48 shares during the period. HF Advisory Group LLC increased its position in shares of Cardinal Health by 0.9% in the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after acquiring an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Cardinal Health by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after acquiring an additional 50 shares in the last quarter. Generali Asset Management SPA SGR raised its holdings in shares of Cardinal Health by 11.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after acquiring an additional 51 shares during the period. Finally, Stephens Inc. AR lifted its position in shares of Cardinal Health by 0.9% in the 4th quarter. Stephens Inc. AR now owns 5,951 shares of the company’s stock valued at $1,223,000 after acquiring an additional 52 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CAH shares. Citigroup decreased their price objective on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, May 1st. TD Cowen increased their target price on Cardinal Health from $251.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 1st. Evercore decreased their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Wells Fargo & Company lowered their price target on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, Robert W. Baird set a $248.00 price target on Cardinal Health in a research report on Friday, May 1st. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Trading Up 0.7%

CAH opened at $237.87 on Wednesday. The stock has a market cap of $55.71 billion, a price-to-earnings ratio of 36.37, a PEG ratio of 1.29 and a beta of 0.52. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $240.93. The stock has a fifty day moving average price of $207.00 and a 200 day moving average price of $210.93.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.38. The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, July 1st. Cardinal Health’s dividend payout ratio is presently 31.50%.

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.