Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in Cardinal Health, Inc. $CAH

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Cardinal Health by 9.9% in the first quarter, bringing its holdings to 116,599 shares valued at about $24.6 million.
• Cardinal Health reported better-than-expected quarterly earnings of $3.17 per share, beating consensus estimates, 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 Wall Street currently has the stock at a Moderate Buy consensus with an average price target of $249.13.

Livforsakringsbolaget Skandia Omsesidigt grew its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,599 shares of the company's stock after acquiring an additional 10,500 shares during the quarter. Cardinal Health comprises approximately 1.0% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 21st biggest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cardinal Health were worth $24,634,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Redhawk Wealth Advisors Inc. boosted its stake in 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 purchasing an additional 48 shares during the period. HF Advisory Group LLC raised its holdings in shares of Cardinal Health by 0.9% in the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company's stock valued at $1,074,000 after buying an additional 49 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of 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 buying an additional 49 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Cardinal Health by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock valued at $1,184,000 after acquiring an additional 50 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in Cardinal Health by 2.6% during the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock valued at $423,000 after acquiring an additional 50 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $229.63 on Wednesday. The firm has a market capitalization of $53.78 billion, a P/E ratio of 35.11, a PEG ratio of 1.14 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The company's fifty day moving average is $213.81 and its two-hundred day moving average is $213.39.

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 analysts' consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to analysts' expectations of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, July 1st. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is currently 31.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAH shares. Weiss Ratings downgraded Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. Evercore dropped their price objective on shares of Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 8th. Zacks Research cut shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. TD Cowen lifted their target price on shares of Cardinal Health from $255.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, Citigroup reissued a "buy" rating on shares of Cardinal Health in a report on Thursday, July 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $249.13.

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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