Exchange Traded Concepts LLC Grows Stock Holdings in Cardinal Health, Inc. $CAH

Exchange Traded Concepts LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 128.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,060 shares of the company’s stock after acquiring an additional 4,527 shares during the period. Exchange Traded Concepts LLC’s holdings in Cardinal Health were worth $1,265,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CAH. Geode Capital Management LLC boosted its stake in Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after purchasing an additional 205,539 shares during the period. Norges Bank bought a new stake in shares of Cardinal Health during the second quarter valued at about $584,420,000. Invesco Ltd. lifted its holdings in shares of Cardinal Health by 7.3% in the second quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after buying an additional 207,750 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Cardinal Health by 2.0% in the second quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after acquiring an additional 45,812 shares during the period. Finally, Marshall Wace LLP grew its stake in Cardinal Health by 19.1% during the second quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock valued at $324,402,000 after acquiring an additional 309,335 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 0.3%

NYSE CAH opened at $208.19 on Friday. The stock’s 50-day simple moving average is $196.29 and its two-hundred day simple moving average is $170.14. Cardinal Health, Inc. has a twelve month low of $117.53 and a twelve month high of $214.93. The company has a market capitalization of $49.46 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.52 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion during the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.5107 per share. 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 (DPR) is 30.77%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho increased their target price on shares of Cardinal Health from $170.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Evercore ISI increased their price objective on Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. Wells Fargo & Company upped their target price on Cardinal Health from $185.00 to $221.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Argus lifted their price target on Cardinal Health from $189.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $209.00.

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.