Byrne Financial Freedom LLC Takes Position in Cardinal Health, Inc. $CAH

Byrne Financial Freedom LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, HoldingsChannel reports. The fund purchased 7,661 shares of the company’s stock, valued at approximately $1,574,000.

Several other large investors have also added to or reduced their stakes in CAH. Wellington Management Group LLP grew its stake in Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares during the period. Holocene Advisors LP grew its stake in Cardinal Health by 141.4% during the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock worth $302,332,000 after purchasing an additional 1,128,358 shares during the period. Barclays PLC grew its stake in Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock worth $248,658,000 after purchasing an additional 827,446 shares during the period. SG Americas Securities LLC grew its stake in Cardinal Health by 3,829.1% during the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock worth $149,504,000 after purchasing an additional 708,995 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Cardinal Health by 44.9% during the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock worth $352,165,000 after purchasing an additional 707,495 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $248.00 target price on Cardinal Health in a research note on Friday, May 1st. Barclays raised their target price on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Argus raised their target price on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, TD Cowen raised their target price on Cardinal Health from $251.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $241.80.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $183.97 on Monday. The business’s 50 day simple moving average is $211.71 and its two-hundred day simple moving average is $206.94. The firm has a market cap of $43.09 billion, a P/E ratio of 28.13, a PEG ratio of 1.09 and a beta of 0.53. Cardinal Health, Inc. has a 52-week low of $137.75 and a 52-week high of $233.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.38. The business had revenue of $60.94 billion for 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 company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts forecast 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 issued a $0.5158 dividend. The ex-dividend date is Wednesday, July 1st. 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 1.1%. Cardinal Health’s dividend payout ratio is currently 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.