Cardinal Health (CAH) Soars 0.73% on Russell 1000 Index Inclusion

Cardinal Health (CAH) shares surged to a record high today, with an intraday gain of 0.73%.

The strategy of buying CAH shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -1.98%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a profitable strategy for CAH.

Cardinal Health has been added to the Russell 1000 Value-Defensive Index, which could positively influence investor perception and demand for the stock. This inclusion is likely to attract more value-oriented investors, potentially driving up the stock price.

On May 5, 2025, Cardinal Health announced details about its upcoming dividend, with an ex-dividend date set for July 1, 2025. This announcement may impact investor decisions and stock performance, as dividends are often seen as a stable source of income for investors.

Robert W. Baird raised their target price for Cardinal Health from $156.00 to $170.00 on May 2, 2025, indicating positive expectations for the stock's performance. This increase in target price suggests that analysts are optimistic about the company's future prospects, which could encourage more investors to buy the stock.

BofA raised Cardinal Health's price target from $170 to $180, suggesting a favorable outlook on the stock's future performance. This upward revision in price target reflects the analysts' confidence in the company's ability to deliver strong financial results.

Wall Street Zen upgraded Cardinal Health's rating from “buy” to “strong-buy,” reflecting increased confidence in the company's prospects. This upgrade is likely to attract more investors to the stock, as it signals that the company is expected to outperform the market.