Hsbc Holdings PLC Has $109.66 Million Position in Cardinal Health, Inc. $CAH

Key Points

• HSBC Holdings reduced its Cardinal Health stake by 17.2% in the first quarter, selling 107,929 shares and leaving it with 519,844 shares valued at about $109.66 million.
• Cardinal Health recently reported better-than-expected earnings, posting $3.17 EPS versus the $2.79 consensus, while revenue rose 11% year over year to $60.94 billion.
• The company also raised its quarterly dividend slightly to $0.5158 per share, and analysts remain broadly positive with a Moderate Buy consensus target of $249.13.

Hsbc Holdings PLC cut its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 519,844 shares of the company's stock after selling 107,929 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Cardinal Health worth $109,662,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CAH. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Cardinal Health by 0.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company's stock worth $1,902,000 after buying an additional 48 shares during the period. HF Advisory Group LLC lifted its position in Cardinal Health by 0.9% during the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company's stock worth $1,074,000 after acquiring an additional 49 shares during the last quarter. Kathmere Capital Management LLC lifted its position in Cardinal Health by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock worth $896,000 after acquiring an additional 49 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock worth $1,184,000 after acquiring an additional 50 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Cardinal Health by 2.6% during the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock worth $423,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Cardinal Health from $256.00 to $245.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Weiss Ratings downgraded Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. Robert W. Baird set a $248.00 price objective on Cardinal Health in a report on Friday, May 1st. Citigroup reiterated a "buy" rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Finally, Bank of America lifted their target price on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $249.13.

Cardinal Health Trading Down 0.1%

NYSE CAH 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 company has a 50 day moving average of $216.25 and a 200-day moving average of $213.76. The company has a market cap of $53.53 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results 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. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business had revenue of $60.94 billion during the quarter, compared to analysts' expectations of $62.10 billion. During the same period 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 forecast that Cardinal Health, Inc. will post 10.77 earnings per share 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 given a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend 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 dividend payout ratio is currently 31.50%.

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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