Renaissance Technologies LLC Sells 429,000 Shares of Cardinal Health, Inc. $CAH

Key Points

• Renaissance Technologies cut its Cardinal Health stake by 55.4% in the first quarter, selling 429,000 shares and leaving it with 344,825 shares valued at about $72.9 million.
• Several analysts remain positive on Cardinal Health (NYSE: CAH), with recent price targets raised by firms including Bank of America, TD Cowen, and UBS; the stock currently carries a Moderate Buy consensus.
• Cardinal Health reported better-than-expected quarterly EPS of $3.17 and raised its dividend slightly to $0.5158 per share, while also guiding fiscal 2026 EPS to $10.70-$10.80.

Renaissance Technologies LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 55.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 344,825 shares of the company's stock after selling 429,000 shares during the quarter. Renaissance Technologies LLC owned 0.15% of Cardinal Health worth $72,865,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Gabelli Funds LLC increased its position in Cardinal Health by 100.0% during the first quarter. Gabelli Funds LLC now owns 3,000 shares of the company's stock worth $634,000 after acquiring an additional 1,500 shares during the period. Inceptionr LLC boosted its holdings in Cardinal Health by 155.9% in the 1st quarter. Inceptionr LLC now owns 9,851 shares of the company's stock valued at $2,077,000 after purchasing an additional 6,002 shares during the period. Liberty One Investment Management LLC grew its position in Cardinal Health by 8.2% in the 1st quarter. Liberty One Investment Management LLC now owns 166,448 shares of the company's stock worth $35,172,000 after purchasing an additional 12,569 shares during the last quarter. Gibbs Wealth Management acquired a new stake in Cardinal Health in the 1st quarter worth $273,000. Finally, Sei Investments Co. raised its position in shares of Cardinal Health by 8.8% during the first quarter. Sei Investments Co. now owns 746,712 shares of the company's stock valued at $157,787,000 after buying an additional 60,340 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAH has been the subject of several recent research reports. William Blair assumed coverage on Cardinal Health in a report on Tuesday, April 28th. They issued an "outperform" rating for the company. Bank of America lifted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. TD Cowen boosted their price objective on Cardinal Health from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a research note on Friday, May 1st. Finally, UBS Group boosted their price target on shares of Cardinal Health from $260.00 to $274.00 and gave the company a "buy" rating in a report on Monday, July 20th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $251.73.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $227.96 on Friday. The business's fifty day moving average price is $219.98 and its two-hundred day moving average price is $214.43. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $243.21. The stock has a market capitalization of $53.39 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data 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. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion during the quarter, compared to analysts' expectations of $62.10 billion. During the same period last year, the business earned $2.35 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Research analysts expect that Cardinal Health, Inc. will post 10.77 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.5158 per share. This is a positive change 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 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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