Best Retirement Portfolio for a 65-Year-Old

8. Cardinal Health, Inc. (NYSE:CAH)

Number of Hedge Fund Holders: 63

Number of Consecutive Years of Dividend Growth: 29

Average 5-Year Share Price Returns: 197.18%

Cardinal Health, Inc. (NYSE:CAH) provides healthcare solutions worldwide, distributing pharmaceuticals, medical supplies, and over-the-counter products. The company manufactures surgical and laboratory items, manages hospital pharmacies, and delivers radiopharmaceuticals. With a strong industry presence since 1979, its stability and dividend growth make it a solid contender for the best retirement portfolio.

On January 14, Cardinal Health, Inc. (NYSE:CAH) announced that it is building a new distribution center in Fort Worth, Texas, to support its at-Home Solutions business, which delivers medical supplies to over 5 million patients each year. The 340,000 square-foot facility will replace two existing warehouses, adding more inventory space while keeping its current workforce. Once up and running, it will ship around 10,000 packages daily. The center is expected to be fully operational by summer 2025.

Cardinal Health, Inc. (NYSE:CAH) reported $55.3 billion in Q2 FY25 revenue, down 4% from last year but up 16% when excluding the impact of a major expired contract. GAAP operating earnings rose 9% to $549 million, while non-GAAP earnings grew to $635 million, driven by strong performance in the Pharmaceutical and Specialty Solutions segment. CEO Jason Hollar highlighted the company’s recent acquisitions, including a majority stake in GI Alliance and the full acquisition of Integrated Oncology Network, reinforcing its focus on specialty growth. As a result, the company raised its FY25 non-GAAP EPS forecast to $7.85-$8.

On February 3, Cardinal Health, Inc. (NYSE:CAH) approved a quarterly dividend of $0.5056 per share. The dividend will be paid on April 15, 2025, to shareholders recorded as of April 1. The company has a 29-year streak of consistent dividend increases.

Among the hedge funds tracked by Insider Monkey, 63 funds were bullish on Cardinal Health, Inc. (NYSE:CAH) at the end of Q4 2024, up from 40 funds in the prior quarter. Israel Englander’s Millennium Management was the largest stakeholder of the company, with nearly 3.4 million shares worth $401.6 million.