Bank of New York Mellon Corp Decreases Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Bank of New York Mellon trimmed its Cardinal Health stake by 2.5% in the first quarter, though it still held 1.36 million shares worth about $287.3 million at the end of the period.
• Cardinal Health reported better-than-expected earnings of $3.17 per share for the quarter, topping estimates, while revenue rose 11% year over year to $60.94 billion. The company also reaffirmed FY2026 EPS guidance of 10.70 to 10.80.
• The company raised its quarterly dividend slightly to $0.5158 per share, and Wall Street sentiment remains constructive with 15 Buy ratings and a consensus Moderate Buy target price of $249.13.

Bank of New York Mellon Corp decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,359,624 shares of the company's stock after selling 34,175 shares during the period. Bank of New York Mellon Corp owned about 0.58% of Cardinal Health worth $287,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CAH. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $26,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the 4th quarter worth about $27,000. Jones Financial Companies Lllp increased its stake in Cardinal Health by 198.3% in 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 period. Finally, Palladiem LLC bought a new stake in Cardinal Health during the 4th quarter valued at about $28,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock opened at $228.57 on Friday. The stock's fifty day moving average is $216.25 and its two-hundred day moving average is $213.76. The stock has a market cap of $53.53 billion, a PE ratio of 34.95, a P/E/G ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating 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 net margin of 0.62% and a negative return on equity of 92.61%. The business's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given 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 was Wednesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.50%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CAH shares. TD Cowen upped their price objective on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their target price on Cardinal Health from $243.00 to $215.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Evercore decreased their price target 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. Zacks Research cut Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

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