Panagora Asset Management Inc. Acquires 155,310 Shares of Cardinal Health, Inc. $CAH

Panagora Asset Management Inc. raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 179.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,850 shares of the company’s stock after acquiring an additional 155,310 shares during the period. Panagora Asset Management Inc. owned about 0.10% of Cardinal Health worth $49,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Cardinal Health during the fourth quarter worth about $27,000. Jones Financial Companies Lllp grew its holdings in shares of 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. Palladiem LLC bought a new stake in shares of Cardinal Health during the fourth quarter worth about $28,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Cardinal Health during the third quarter worth about $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $226.52 on Tuesday. The stock’s 50 day moving average is $203.46 and its 200 day moving average is $208.92. The firm has a market cap of $53.05 billion, a P/E ratio of 34.64, a P/E/G ratio of 1.22 and a beta of 0.52. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $233.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.5158 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health’s payout ratio is presently 31.19%.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Barclays boosted their price target on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Monday. TD Cowen boosted their price target on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Finally, William Blair initiated coverage on Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned 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 $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.