Martingale Asset Management L P Lowers Stake in Cardinal Health, Inc. $CAH

Key Points

• Martingale Asset Management cut its Cardinal Health stake by 10.1% in the fourth quarter, selling 11,974 shares and leaving it with 106,415 shares valued at about $21.9 million.
• Wall Street sentiment remains mostly positive, with Cardinal Health holding a Moderate Buy consensus rating and an average price target of $246.93 despite some analysts trimming targets.
• The company beat earnings expectations in its latest quarter, reporting $3.17 EPS versus $2.79 expected, and it also raised its quarterly dividend to $0.5158 per share.

Martingale Asset Management L P lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,415 shares of the company's stock after selling 11,974 shares during the period. Martingale Asset Management L P's holdings in Cardinal Health were worth $21,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. raised its position 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 purchasing an additional 48 shares during the period. HF Advisory Group LLC raised its position 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 purchasing an additional 49 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Cardinal Health by 0.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock worth $1,184,000 after purchasing an additional 50 shares during the period. Generali Asset Management SPA SGR raised its position 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 purchasing an additional 51 shares during the period. Finally, Stephens Inc. AR raised its position 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 purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their target price on Cardinal Health from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 7th. Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on Cardinal Health from $243.00 to $215.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Finally, 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 report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $246.93.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $223.76 on Friday. The stock has a fifty day moving average price of $203.21 and a two-hundred day moving average price of $208.85. The firm has a market cap of $52.41 billion, a P/E ratio of 34.21, a PEG ratio of 1.21 and a beta of 0.52. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $233.60.

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 analysts' consensus estimates of $2.79 by $0.38. The firm 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 firm's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is 31.19%.

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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