Allspring Global Investments Holdings LLC Acquires 55,055 Shares of Cardinal Health, Inc. $CAH

Allspring Global Investments Holdings LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 223.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,704 shares of the company’s stock after buying an additional 55,055 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cardinal Health were worth $16,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Cardinal Health during the fourth quarter worth $790,344,000. Wellington Management Group LLP lifted its stake in Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after acquiring an additional 3,511,579 shares in the last quarter. Marshall Wace LLP boosted its holdings in Cardinal Health by 1,328.1% during the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock worth $195,484,000 after acquiring an additional 884,648 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Cardinal Health by 3,829.1% during the 4th quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock worth $149,504,000 after acquiring an additional 708,995 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after acquiring an additional 617,775 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. TD Cowen upped their price objective on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Evercore dropped their target price on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Bank of America upped their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $250.07.

Cardinal Health Stock Performance

Shares of CAH stock opened at $226.98 on Wednesday. The firm has a market cap of $53.16 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 1.11 and a beta of 0.49. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $243.21. The firm’s 50-day simple moving average is $218.00 and its two-hundred day simple moving average is $214.09.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The firm had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the prior year, the firm earned $2.35 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Analysts forecast that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.5158 per share. This is a boost 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 was Wednesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is 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.