California Public Employees Retirement System Sells 156,287 Shares of Cardinal Health, Inc. $CAH

California Public Employees Retirement System lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 953,908 shares of the company’s stock after selling 156,287 shares during the period. California Public Employees Retirement System owned 0.40% of Cardinal Health worth $160,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Cardinal Health during the 2nd quarter worth about $584,420,000. Wellington Management Group LLP raised its stake in Cardinal Health by 1,666.7% during the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock worth $328,470,000 after buying an additional 2,249,241 shares during the period. JPMorgan Chase & Co. raised its stake in Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after buying an additional 1,193,983 shares during the period. Zurich Insurance Group Ltd FI boosted its holdings in Cardinal Health by 4,935.9% in the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock worth $130,434,000 after acquiring an additional 927,950 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Cardinal Health by 92.5% in the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock valued at $282,063,000 after acquiring an additional 807,063 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CAH shares. Robert W. Baird set a $232.00 target price on Cardinal Health in a research report on Friday, October 31st. Jefferies Financial Group set a $220.00 price objective on shares of Cardinal Health and gave the stock a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Argus upped their target price on shares of Cardinal Health from $189.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research report on Tuesday, November 18th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.57.

Cardinal Health Price Performance

Shares of CAH stock opened at $198.93 on Monday. The firm has a 50-day moving average of $182.59 and a 200-day moving average of $165.21. Cardinal Health, Inc. has a one year low of $114.60 and a one year high of $214.93. The company has a market cap of $47.27 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.45 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.33. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be issued a $0.5107 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is currently 30.77%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.