Public Employees Retirement System of Ohio Trims Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Public Employees Retirement System of Ohio cut its Cardinal Health stake by 13% in the first quarter, selling 13,326 shares and leaving it with 88,997 shares valued at about $18.8 million.
• Wall Street sentiment remains constructive: Cardinal Health has 15 Buy ratings and 3 Hold ratings, with a consensus Moderate Buy and average target price of $251.73.
• The company beat earnings expectations in its latest quarter, posting $3.17 EPS versus $2.79 expected, and it also raised its quarterly dividend to $0.5158 per share.

Public Employees Retirement System of Ohio lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,997 shares of the company's stock after selling 13,326 shares during the period. Public Employees Retirement System of Ohio's holdings in Cardinal Health were worth $18,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CAH. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cardinal Health in the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust purchased a new position in Cardinal Health during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp increased its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after buying an additional 14,034 shares during the period. Palladiem LLC purchased a new stake in Cardinal Health in the fourth quarter valued at approximately $28,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAH. UBS Group raised their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. TD Cowen upped their price target on shares of Cardinal Health from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Zacks Research downgraded shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings cut shares of Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.73.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $227.96 on Friday. The stock has a fifty day moving average price of $219.98 and a 200 day moving average price of $214.43. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21. The company has a market cap of $53.39 billion, a PE ratio of 34.86, a P/E/G ratio of 1.12 and a beta of 0.49.

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 (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.38. The company 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%. Cardinal Health's revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts anticipate that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.5158 per share. 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%. The ex-dividend date of this dividend was Wednesday, July 1st. Cardinal Health's dividend payout ratio is currently 31.50%.

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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