Cardinal Health, Inc. $CAH Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC cut its Cardinal Health stake by 87.5% in the first quarter, selling 10,022 shares and leaving it with 1,428 shares worth about $303,000.
• Wall Street sentiment remains positive, with 15 analysts rating the stock a Buy and three a Hold; the consensus target price is $249.13 and the average rating is Moderate Buy.
• Cardinal Health reported stronger-than-expected earnings of $3.17 per share last quarter, beat EPS estimates, and raised its quarterly dividend slightly to $0.5158 per share.

International Assets Investment Management LLC lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 87.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428 shares of the company's stock after selling 10,022 shares during the period. International Assets Investment Management LLC's holdings in Cardinal Health were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Diversify Wealth Management LLC boosted its position in shares of Cardinal Health by 126.5% in the 1st quarter. Diversify Wealth Management LLC now owns 2,711 shares of the company's stock valued at $550,000 after purchasing an additional 1,514 shares during the period. Valmark Advisers Inc. increased its position in Cardinal Health by 25.3% during the first quarter. Valmark Advisers Inc. now owns 2,112 shares of the company's stock worth $446,000 after buying an additional 427 shares during the period. Pittenger & Anderson Inc. increased its position in Cardinal Health by 10.3% during the first quarter. Pittenger & Anderson Inc. now owns 3,490 shares of the company's stock worth $737,000 after buying an additional 325 shares during the period. Carnegie Investment Counsel lifted its stake in Cardinal Health by 12.3% in the first quarter. Carnegie Investment Counsel now owns 1,389 shares of the company's stock valued at $294,000 after buying an additional 152 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Cardinal Health by 446.8% in the first quarter. Fifth Third Bancorp now owns 78,006 shares of the company's stock valued at $16,483,000 after acquiring an additional 63,741 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAH. Robert W. Baird set a $248.00 target price on shares of Cardinal Health in a report on Friday, May 1st. Morgan Stanley increased their price target on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Evercore lowered their price objective 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. Citigroup restated a "buy" rating on shares of Cardinal Health in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $249.13.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $224.75 on Thursday. The stock has a fifty day moving average price of $214.48 and a 200 day moving average price of $213.51. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21. The company has a market cap of $52.64 billion, a PE ratio of 34.37, a P/E/G ratio of 1.13 and a beta of 0.49.

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

Cardinal Health Increases Dividend

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

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