International Assets Investment Management LLC Acquires Shares of 11,450 Cardinal Health, Inc. $CAH

Key Points

• International Assets Investment Management disclosed a new fourth-quarter stake in Cardinal Health, buying 11,450 shares valued at about $2.35 million.
• Several other hedge funds also increased their Cardinal Health holdings, and institutions now own 87.17% of the company’s stock.
• Cardinal Health reported better-than-expected earnings of $3.17 per share for the latest quarter and raised its quarterly dividend to $0.5158 per share, while analysts maintain a Moderate Buy consensus.

International Assets Investment Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,450 shares of the company's stock, valued at approximately $2,353,000.

A number of other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake 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 buying an additional 3,511,579 shares during the last quarter. Holocene Advisors LP lifted its position in Cardinal Health by 141.4% during the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company's stock worth $302,332,000 after acquiring an additional 1,128,358 shares during the last quarter. Barclays PLC boosted its holdings in shares of Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company's stock worth $248,658,000 after acquiring an additional 827,446 shares during the period. SG Americas Securities LLC grew its position in shares of Cardinal Health by 3,829.1% in the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company's stock valued at $149,504,000 after purchasing an additional 708,995 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Cardinal Health by 44.9% in the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company's stock valued at $352,165,000 after purchasing an additional 707,495 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research reports. Citigroup dropped their price target on Cardinal Health from $249.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 1st. Weiss Ratings raised Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Zacks Research upgraded Cardinal Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. Morgan Stanley lifted their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Finally, Mizuho upped their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an "outperform" rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.80.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $183.97 on Friday. The company has a market capitalization of $43.09 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.10 and a beta of 0.53. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $233.60. The business's 50 day simple moving average is $211.71 and its 200 day simple moving average is $206.94.

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 for the quarter, beating the consensus estimate of $2.79 by $0.38. The firm 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%.The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.1%. This is a boost 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 presently 31.19%.

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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