Manning & Napier Advisors LLC Increases Holdings in Cardinal Health, Inc. $CAH

Key Points

• Manning & Napier Advisors dramatically increased its Cardinal Health stake in the first quarter, ending with 129,206 shares valued at about $27.3 million.
• Wall Street sentiment remains positive, with several firms raising price targets and the stock holding a Moderate Buy consensus rating and $249.13 average target price.
• Cardinal Health reported strong quarterly earnings, beating EPS estimates with $3.17 per share, and also lifted its quarterly dividend to $0.5158 per share.

Manning & Napier Advisors LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1,291,960.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,206 shares of the company's stock after acquiring an additional 129,196 shares during the quarter. Manning & Napier Advisors LLC owned about 0.05% of Cardinal Health worth $27,303,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Equitable Trust Co. raised its stake in Cardinal Health by 34.8% during the first quarter. Equitable Trust Co. now owns 3,188 shares of the company's stock worth $674,000 after purchasing an additional 823 shares during the period. Whipplewood Advisors LLC grew its stake in shares of Cardinal Health by 422.0% in the 1st quarter. Whipplewood Advisors LLC now owns 522 shares of the company's stock valued at $110,000 after buying an additional 422 shares during the period. Mosaic Family Wealth Partners LLC increased its holdings in shares of Cardinal Health by 18.3% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 1,460 shares of the company's stock worth $308,000 after buying an additional 226 shares during the last quarter. Harold Davidson & Associates Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at approximately $1,647,000. Finally, WPG Advisers LLC raised its position in shares of Cardinal Health by 18.8% during the 1st quarter. WPG Advisers LLC now owns 879 shares of the company's stock valued at $186,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAH. Morgan Stanley increased their price objective on Cardinal Health from $245.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Bank of America upped their price target on Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Citigroup reiterated a "buy" rating on shares of Cardinal Health in a report on Thursday, July 2nd. Weiss Ratings downgraded Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.13.

Cardinal Health Stock Up 0.8%

NYSE CAH traded up $1.77 on Friday, reaching $235.54. The stock had a trading volume of 2,842,646 shares, compared to its average volume of 2,287,700. The firm has a market capitalization of $55.16 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 1.15 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21. The stock has a fifty day moving average price of $212.35 and a two-hundred day moving average price of $212.99.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. The business had revenue of $60.94 billion during 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 company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Sell-side analysts forecast that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal 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 given a $0.5158 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. 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. Cardinal Health's dividend payout ratio is presently 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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