Legal & General Group Plc Sells 12,123 Shares of Cardinal Health, Inc. $CAH

Key Points

• Legal & General Group Plc reduced its Cardinal Health stake by 0.6% in the fourth quarter, selling 12,123 shares but still holding about 2.13 million shares valued at roughly $437 million.
• Cardinal Health reported fiscal Q4 earnings of $3.17 per share, beating estimates, while revenue rose 11% year over year to $60.94 billion even though it slightly missed analyst expectations.
• The company raised its quarterly dividend to $0.5158 per share, and Wall Street remains broadly positive with a Moderate Buy consensus and an average price target of about $241.80.

Legal & General Group Plc trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,126,442 shares of the company's stock after selling 12,123 shares during the quarter. Legal & General Group Plc owned about 0.90% of Cardinal Health worth $436,984,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Redhawk Wealth Advisors Inc. raised 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 in the last quarter. HF Advisory Group LLC raised its holdings in shares of Cardinal Health by 0.9% during the 4th quarter. HF Advisory Group LLC now owns 5,227 shares of the company's stock worth $1,074,000 after buying an additional 49 shares in the last quarter. Generali Asset Management SPA SGR raised its holdings in shares of Cardinal Health by 11.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company's stock worth $105,000 after buying an additional 51 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Cardinal Health by 0.9% during the 4th quarter. Stephens Inc. AR now owns 5,951 shares of the company's stock worth $1,223,000 after buying an additional 52 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Cardinal Health by 38.7% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company's stock worth $39,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Down 0.1%

Shares of CAH opened at $200.42 on Tuesday. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $233.60. The business has a 50-day simple moving average of $204.83 and a two-hundred day simple moving average of $208.86. The stock has a market cap of $46.94 billion, a PE ratio of 30.64, a PEG ratio of 1.19 and a beta of 0.53.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned $2.35 EPS. The business'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 expect that Cardinal Health, Inc. will post 10.76 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 31.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings cut Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. Robert W. Baird set a $248.00 price target on Cardinal Health in a report on Friday, May 1st. Zacks Research raised Cardinal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Wells Fargo & Company lowered their price target on Cardinal Health from $256.00 to $245.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Finally, Mizuho boosted their price target on Cardinal Health from $222.00 to $235.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus target price of $241.80.

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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