7,661 Shares in Cardinal Health, Inc. $CAH Bought by Byrne Financial Freedom LLC

Key Points

• Byrne Financial Freedom LLC opened a new position in Cardinal Health in the fourth quarter, buying 7,661 shares valued at about $1.57 million.
• Cardinal Health’s latest quarterly results beat EPS estimates, reporting $3.17 per share versus the expected $2.79, while revenue rose 11% year over year to $60.94 billion.
• The company also raised its quarterly dividend to $0.5158 per share, and analysts currently rate the stock a Moderate Buy with an average target price of $241.80.

Byrne Financial Freedom LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,661 shares of the company's stock, valued at approximately $1,574,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Strategy Asset Managers LLC bought a new stake in shares of Cardinal Health during the 3rd quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company's stock worth $5,938,000 after buying an additional 5,030 shares during the last quarter. Versor Investments LP acquired a new position in Cardinal Health in the 3rd quarter worth about $2,090,000. Nordea Investment Management AB increased its holdings in Cardinal Health by 328.3% in the 4th quarter. Nordea Investment Management AB now owns 645,436 shares of the company's stock worth $133,741,000 after purchasing an additional 494,731 shares in the last quarter. Finally, Atle Fund Management AB increased its holdings in Cardinal Health by 13.1% in the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company's stock worth $4,755,000 after purchasing an additional 3,500 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent research reports. Citigroup lowered their target price on Cardinal Health from $249.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 1st. Weiss Ratings raised Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, May 4th. Argus upped their target price on Cardinal Health from $232.00 to $248.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Leerink Partners reaffirmed an "outperform" rating and issued a $275.00 target price on shares of Cardinal Health in a report on Monday, March 9th. Finally, Robert W. Baird set a $248.00 target price on Cardinal Health in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $241.80.

Cardinal Health Trading Up 0.2%

Shares of CAH stock opened at $183.97 on Monday. The stock has a market cap of $43.09 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.09 and a beta of 0.53. The stock has a 50-day moving average of $211.71 and a 200-day moving average of $206.94. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.38. The company 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 quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Sell-side analysts forecast that Cardinal Health, Inc. will post 10.76 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.1%. Cardinal Health's payout ratio is currently 31.19%.

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.

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