SEB Asset Management AB Buys Shares of 78,004 Cardinal Health, Inc. $CAH

Key Points

• SEB Asset Management AB opened a new position in Cardinal Health, buying 78,004 shares worth about $16.48 million in the first quarter.
• Cardinal Health reported better-than-expected quarterly earnings of $3.17 per share, topping estimates, while revenue rose 11% year over year to $60.94 billion.
• The company raised its quarterly dividend to $0.5158 per share, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of $250.07.

SEB Asset Management AB bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 78,004 shares of the company's stock, valued at approximately $16,483,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Cardinal Health by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company's stock valued at $6,461,179,000 after purchasing an additional 617,775 shares during the period. State Street Corp increased its position in Cardinal Health by 1.8% in the fourth quarter. State Street Corp now owns 12,509,230 shares of the company's stock worth $2,570,647,000 after buying an additional 221,497 shares during the period. Geode Capital Management LLC lifted its stake in Cardinal Health by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock valued at $1,336,750,000 after buying an additional 43,924 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after buying an additional 3,511,579 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter valued at $790,344,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH opened at $225.76 on Tuesday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The stock's fifty day moving average is $217.11 and its 200-day moving average is $213.94. The firm has a market capitalization of $52.88 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share 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 the consensus estimate of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.5158 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is currently 31.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Cardinal Health from $256.00 to $245.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Citigroup reiterated a "buy" rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Bank of America upped their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Zacks Research lowered shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Morgan Stanley lifted their price target on Cardinal Health from $245.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and an average target price of $250.07.

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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