Convergence Investment Partners LLC Has $4.52 Million Holdings in Cardinal Health, Inc. $CAH

Convergence Investment Partners LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,372 shares of the company’s stock after selling 4,782 shares during the period. Convergence Investment Partners LLC’s holdings in Cardinal Health were worth $4,516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. boosted its position in Cardinal Health by 0.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock worth $1,902,000 after acquiring an additional 48 shares during the last quarter. HF Advisory Group LLC raised its holdings in Cardinal Health by 0.9% during the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after acquiring an additional 49 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Cardinal Health by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock valued at $896,000 after purchasing an additional 49 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after purchasing an additional 50 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock valued at $423,000 after purchasing an additional 50 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CAH shares. Morgan Stanley upped their price objective on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. UBS Group boosted their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the stock a “buy” rating in a report on Monday. William Blair started coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $250.07.

Cardinal Health Stock Down 1.2%

Shares of CAH stock opened at $225.76 on Tuesday. The firm has a 50 day moving average price of $217.11 and a two-hundred day moving average price of $213.94. The company has a market capitalization of $52.88 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, April 30th. The company reported $3.17 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 firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the firm posted $2.35 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared 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. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) 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.