WCM Investment Management LLC Sells 26,046 Shares of Cardinal Health, Inc. $CAH

Key Points

• WCM Investment Management trimmed its Cardinal Health stake slightly in the first quarter, selling 26,046 shares but still holding 4,006,636 shares valued at about $826.6 million.
• Institutional ownership remains high, with big holders like Vanguard, State Street, and Geode all maintaining large positions; overall, institutions own 87.17% of Cardinal Health.
• Cardinal Health continues to draw positive analyst sentiment, with 15 Buy ratings and an average price target of $249.13; the company also recently beat EPS expectations and raised its quarterly dividend.

WCM Investment Management LLC decreased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,006,636 shares of the company's stock after selling 26,046 shares during the quarter. Cardinal Health accounts for approximately 1.9% of WCM Investment Management LLC's holdings, making the stock its 19th largest holding. WCM Investment Management LLC owned 1.71% of Cardinal Health worth $826,609,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CAH. Vanguard Group Inc. raised its holdings in Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company's stock worth $6,461,179,000 after acquiring an additional 617,775 shares in the last quarter. State Street Corp lifted its stake in Cardinal Health by 1.8% in the fourth quarter. State Street Corp now owns 12,509,230 shares of the company's stock valued at $2,570,647,000 after acquiring an additional 221,497 shares during the last quarter. 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 acquiring an additional 43,924 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after acquiring an additional 3,511,579 shares during the period. Finally, Norges Bank bought a new position in shares of Cardinal Health in the 4th quarter valued at about $790,344,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. Evercore lowered their price target on Cardinal Health from $260.00 to $240.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 8th. Bank of America upped their price objective 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 reaffirmed a "buy" rating on shares of Cardinal Health in a research report on Thursday, July 2nd. Finally, Morgan Stanley lifted their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $249.13.

Cardinal Health Price Performance

NYSE CAH opened at $228.57 on Monday. The business has a fifty day moving average price of $216.25 and a two-hundred day moving average price of $213.81. The stock has a market capitalization of $53.53 billion, a PE ratio of 34.95, a PEG ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $243.21.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $62.10 billion. During the same quarter last year, the company posted $2.35 EPS. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.5158 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis 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 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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