Hsbc Holdings PLC Sells 107,929 Shares of Cardinal Health, Inc. $CAH

Hsbc Holdings PLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 519,844 shares of the company’s stock after selling 107,929 shares during the quarter. Hsbc Holdings PLC’s holdings in Cardinal Health were worth $109,662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cardinal Health during the fourth quarter valued at approximately $26,000. Bank of Jackson Hole Trust bought a new stake in Cardinal Health during the fourth quarter worth $27,000. Jones Financial Companies Lllp lifted its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. Finally, Palladiem LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $28,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH opened at $228.57 on Friday. The stock has a market capitalization of $53.53 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $243.21. The stock has a fifty day moving average of $216.25 and a 200-day moving average of $213.76.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.5158 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, July 1st. Cardinal Health’s payout ratio is currently 31.50%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAH. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. reduced their price objective on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Citigroup reiterated a “buy” rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Bank of America boosted their target price on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Evercore dropped their target price on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.13.

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.