California Public Employees Retirement System Buys 19,368 Shares of Cardinal Health, Inc. $CAH

Key Points

• CalPERS increased its Cardinal Health stake by 3.0% in the first quarter, buying 19,368 more shares and bringing its total holdings to 663,948 shares valued at about $140.3 million.
• Cardinal Health posted stronger-than-expected earnings for the latest quarter, with EPS of $3.17 versus the $2.79 estimate, while revenue rose 11% year over year to $60.94 billion.
• The company raised its quarterly dividend to $0.5158 per share, and analysts currently have a consensus rating of “Moderate Buy” with an average price target of $249.13.

California Public Employees Retirement System increased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 663,948 shares of the company's stock after acquiring an additional 19,368 shares during the period. California Public Employees Retirement System owned about 0.28% of Cardinal Health worth $140,299,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company's stock worth $6,461,179,000 after purchasing an additional 617,775 shares during the last quarter. State Street Corp increased its position in shares of Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company's stock valued at $2,570,647,000 after purchasing an additional 221,497 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock valued at $1,336,750,000 after buying an additional 43,924 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Finally, Norges Bank bought a new stake in Cardinal Health in the 4th quarter worth approximately $790,344,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Down 0.1%

CAH opened at $228.57 on Friday. The stock has a market cap of $53.53 billion, a PE ratio of 34.95, a PEG ratio of 1.12 and a beta of 0.49. The business has a 50 day moving average of $216.25 and a 200-day moving average of $213.76. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $243.21.

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, topping the consensus estimate of $2.79 by $0.38. The company had revenue of $60.94 billion for 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 firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior 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 10.77 EPS for the current year.

Cardinal Health Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on CAH. 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. William Blair began coverage on shares of Cardinal Health in a report on Tuesday, April 28th. They issued an "outperform" rating for the company. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Cardinal Health from $243.00 to $215.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Finally, Evercore decreased their target price on shares of Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a research 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 stock. According to data from MarketBeat.com, the company 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.

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