Cardinal Health, Inc. $CAH Shares Bought by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in Cardinal Health by 7.2% in the first quarter, ending with 697,300 shares valued at about $147.3 million.
• Cardinal Health posted better-than-expected earnings of $3.17 per share for the quarter, beating analyst estimates, while revenue rose 11% year over year to $60.94 billion.
• The company raised its quarterly dividend to $0.5158 per share, and Wall Street remains generally positive with a consensus rating of “Moderate Buy” and an average price target of $249.13.

Swiss National Bank boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 697,300 shares of the company's stock after purchasing an additional 46,900 shares during the quarter. Swiss National Bank owned approximately 0.30% of Cardinal Health worth $147,346,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAH. Integrated Wealth Concepts LLC grew its stake in Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp raised its position in 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 acquiring an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Cardinal Health during the second quarter valued at $1,935,000. Cerity Partners LLC lifted its holdings in Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company's stock valued at $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC grew its position in shares of Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company's stock valued at $1,736,000 after purchasing an additional 2,646 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.0%

Shares of NYSE CAH opened at $228.57 on Monday. The firm has a 50-day simple moving average of $216.25 and a 200-day simple moving average of $213.81. The stock has a market capitalization of $53.53 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. 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 posted its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the previous year, the business posted $2.35 earnings per share. Cardinal Health's quarterly revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Evercore lowered their price objective on Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a report on Wednesday, April 8th. Robert W. Baird set a $248.00 price objective on Cardinal Health in a research note on Friday, May 1st. Citigroup reissued a "buy" rating on shares of Cardinal Health in a report on Thursday, July 2nd. Finally, Wells Fargo & Company decreased their target price on Cardinal Health from $256.00 to $245.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Fifteen equities research 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, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus price target of $249.13.

About Cardinal Health

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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