TD Asset Management Inc Grows Stock Position in Cardinal Health, Inc. $CAH

TD Asset Management Inc raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 374,531 shares of the company’s stock after acquiring an additional 22,042 shares during the quarter. TD Asset Management Inc’s holdings in Cardinal Health were worth $76,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lido Advisors LLC raised its stake in Cardinal Health by 3.0% in the fourth quarter. Lido Advisors LLC now owns 57,519 shares of the company’s stock valued at $11,820,000 after buying an additional 1,670 shares during the last quarter. REAP Financial Group LLC raised its stake in shares of Cardinal Health by 17.7% in the fourth quarter. REAP Financial Group LLC now owns 625 shares of the company’s stock worth $128,000 after purchasing an additional 94 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Cardinal Health by 64.2% in the fourth quarter. CIBC Asset Management Inc now owns 57,318 shares of the company’s stock worth $11,779,000 after purchasing an additional 22,419 shares during the last quarter. Marble Wealth LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth about $2,283,000. Finally, Kesler Norman & Wride LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth about $1,007,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 2.0%

Shares of NYSE:CAH opened at $205.79 on Friday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $233.60. The company has a market capitalization of $48.20 billion, a PE ratio of 31.47, a PEG ratio of 1.10 and a beta of 0.52. The business has a 50 day moving average of $202.53 and a two-hundred day moving average of $208.57.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the previous year, the company posted $2.35 earnings per share. Cardinal Health’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. Equities research analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

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

Analysts Set New Price Targets

CAH has been the subject of several research analyst reports. Leerink Partners restated an “outperform” rating and issued a $275.00 price objective on shares of Cardinal Health in a research note on Monday, March 9th. Argus raised their price objective on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. UBS Group set a $260.00 price objective on Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. TD Cowen raised their price objective on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Evercore lowered their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.80.

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.