Convergence Investment Partners LLC Has $4.52 Million Stake in Cardinal Health, Inc. $CAH

Key Points

• Convergence Investment Partners LLC cut its Cardinal Health stake by 18.3% in the first quarter, leaving it with 21,372 shares valued at about $4.52 million.
• Cardinal Health reported Q4 EPS of $3.17, topping analyst estimates, while revenue rose 11% year over year to $60.94 billion.
• The company raised its quarterly dividend slightly to $0.5158 per share, and Wall Street sentiment remains positive with a Moderate Buy consensus and average price target of about $250.07.

Convergence Investment Partners LLC reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,372 shares of the company's stock after selling 4,782 shares during the quarter. Convergence Investment Partners LLC's holdings in Cardinal Health were worth $4,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new position in Cardinal Health during the 4th quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $26,000. Bank of Jackson Hole Trust acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $27,000. Indiana Trust & Investment Management Co bought a new stake in shares of Cardinal Health during the first quarter worth $29,000. Finally, Palladiem LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Down 1.2%

Shares of CAH opened at $225.76 on Tuesday. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21. The stock has a market cap of $52.88 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. The stock's 50-day moving average price is $217.11 and its two-hundred day moving average price is $213.94.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly 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 company had revenue of $60.94 billion during 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%.Cardinal Health's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities analysts forecast 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 issued a dividend of $0.5158 per share. 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 yield of 0.9%. The ex-dividend date was Wednesday, July 1st. Cardinal Health's dividend payout ratio is presently 31.50%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAH. TD Cowen raised their price target on Cardinal Health from $255.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Weiss Ratings cut Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. UBS Group upped their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the company a "buy" rating in a research report on Monday. Zacks Research lowered shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a research report on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $250.07.

Cardinal Health Company 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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