Allstate Corp Acquires New Position in Cardinal Health, Inc. $CAH

Allstate Corp acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,528 shares of the company’s stock, valued at approximately $1,339,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position 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 valued at $1,069,005,000 after acquiring an additional 205,539 shares in the last quarter. Norges Bank purchased a new stake in shares of Cardinal Health during the second quarter valued at $584,420,000. Invesco Ltd. increased its holdings in Cardinal Health by 7.3% in the 2nd 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 raised its position in Cardinal Health by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock worth $394,761,000 after buying an additional 45,812 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Cardinal Health by 19.1% during the 2nd 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 during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CAH shares. Mizuho set a $222.00 price target on shares of Cardinal Health in a research note on Monday, January 12th. Argus lifted their target price on shares of Cardinal Health from $189.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group increased their price target on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 31st. Evercore ISI lifted their price objective on Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, TD Cowen upped their price objective on Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $216.33.

Cardinal Health Trading Down 1.0%

Shares of CAH stock opened at $210.31 on Wednesday. The stock has a market capitalization of $49.97 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 1.44 and a beta of 0.65. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $215.48. The stock’s 50-day moving average price is $205.62 and its 200-day moving average price is $175.45.

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, beating the consensus estimate of $2.22 by $0.33. The business 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 firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Friday, January 2nd were given a $0.5107 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s dividend payout ratio (DPR) is currently 30.77%.

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.