Public Employees Retirement System of Ohio Sells 386 Shares of Cardinal Health, Inc. $CAH

Public Employees Retirement System of Ohio reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 136,023 shares of the company’s stock after selling 386 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.06% of Cardinal Health worth $22,852,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. BCS Wealth Management bought a new stake in shares of Cardinal Health during the 2nd quarter worth $204,000. Accurate Wealth Management LLC lifted its holdings in shares of Cardinal Health by 92.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 3,627 shares of the company’s stock worth $588,000 after acquiring an additional 1,746 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Cardinal Health by 1.9% during the 2nd quarter. Fifth Third Bancorp now owns 14,458 shares of the company’s stock worth $2,429,000 after acquiring an additional 268 shares during the last quarter. Family Investment Center Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter worth $217,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Cardinal Health during the 2nd quarter worth $1,911,000. 87.17% of the stock is owned by institutional investors.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider owned 48,457 shares in the company, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares in the company, valued at $2,228,728.32. The trade was a 47.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,676 shares of company stock valued at $40,489,525. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAH. Morgan Stanley reaffirmed an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Robert W. Baird lifted their price objective on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Leerink Partners dropped their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.93.

Cardinal Health Stock Down 3.6%

Shares of NYSE:CAH opened at $149.04 on Friday. The stock has a market cap of $35.41 billion, a PE ratio of 23.11, a PEG ratio of 1.31 and a beta of 0.73. The company’s fifty day moving average is $152.31 and its 200 day moving average is $149.09. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm had revenue of $60.16 billion for the quarter, compared to analysts’ expectations of $60.91 billion. During the same quarter in the previous year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.5107 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Cardinal Health’s payout ratio is presently 31.63%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.