Cardinal Health, Inc. $CAH Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its Cardinal Health stake by 35.4% in the first quarter, buying 27,631 additional shares and bringing its total to 105,770 shares worth about $22.35 million.
• Institutional ownership remains very high, with several other hedge funds and asset managers also boosting positions; the article says 87.17% of Cardinal Health stock is owned by institutions and hedge funds.
• Analysts are generally positive on the stock: TD Cowen raised its price target to $275, and the consensus rating is Moderate Buy with an average target price of $249.13.

Assetmark Inc. raised its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,770 shares of the company's stock after buying an additional 27,631 shares during the quarter. Assetmark Inc.'s holdings in Cardinal Health were worth $22,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Cardinal Health in the fourth quarter valued at about $790,344,000. Wellington Management Group LLP lifted its position in Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the period. Marshall Wace LLP increased its holdings in shares of Cardinal Health by 1,328.1% during the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company's stock valued at $195,484,000 after purchasing an additional 884,648 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Cardinal Health by 7,053.4% during the first quarter. Bessemer Group Inc. now owns 750,038 shares of the company's stock worth $158,491,000 after buying an additional 739,553 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Cardinal Health by 3,829.1% during the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company's stock valued at $149,504,000 after buying an additional 708,995 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CAH. TD Cowen upped their price target on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Robert W. Baird set a $248.00 price objective on Cardinal Health in a research note on Friday, May 1st. Wells Fargo & Company reduced their target price on Cardinal Health from $256.00 to $245.00 and set an "overweight" rating for the company in a report on Friday, May 1st. William Blair started coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Finally, Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $249.13.

Cardinal Health Price Performance

CAH stock opened at $228.57 on Friday. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21. The firm has a market capitalization of $53.53 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. The business has a 50 day simple moving average of $216.25 and a 200-day simple moving average of $213.76.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data 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 negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.