Fifth Third Bancorp Has $16.48 Million Stock Holdings in Cardinal Health, Inc. $CAH

Fifth Third Bancorp increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 446.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,006 shares of the company's stock after purchasing an additional 63,741 shares during the quarter. Fifth Third Bancorp's holdings in Cardinal Health were worth $16,483,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CAH. Norges Bank bought a new stake in shares of Cardinal Health during the fourth quarter worth $790,344,000. Wellington Management Group LLP lifted its position in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after acquiring an additional 3,511,579 shares in the last quarter. Marshall Wace LLP boosted its stake in Cardinal Health by 1,328.1% in the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company's stock worth $195,484,000 after purchasing an additional 884,648 shares during the period. SG Americas Securities LLC boosted its stake in Cardinal Health by 3,829.1% in the 4th quarter. SG Americas Securities LLC now owns 727,511 shares of the company's stock worth $149,504,000 after purchasing an additional 708,995 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Cardinal Health by 2.0% during the 4th 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 in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $229.63 on Wednesday. The stock has a 50 day moving average price of $213.81 and a 200 day moving average price of $213.39. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $243.21. The stock has a market capitalization of $53.78 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.49.

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 the consensus estimate of $2.79 by $0.38. The firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, research analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health's payout ratio is currently 31.50%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAH. Citigroup reissued a "buy" rating on shares of Cardinal Health in a research note on Thursday, July 2nd. Wells Fargo & Company decreased their price objective 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 assumed coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Zacks Research lowered Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, Evercore cut their target price on Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 8th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $249.13.

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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