Hennessy Advisors Inc. Increases Holdings in Cardinal Health, Inc. $CAH

Hennessy Advisors Inc. grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 331.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 92,400 shares of the company’s stock after acquiring an additional 71,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cardinal Health were worth $15,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CAH. Wellington Management Group LLP raised its position in shares of Cardinal Health by 1,666.7% during the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock valued at $328,470,000 after buying an additional 2,249,241 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after purchasing an additional 1,193,983 shares during the last quarter. Zurich Insurance Group Ltd FI grew its holdings in Cardinal Health by 4,935.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock valued at $130,434,000 after purchasing an additional 927,950 shares during the last quarter. Nuveen LLC bought a new position in Cardinal Health during the 1st quarter valued at about $106,065,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in Cardinal Health during the 1st quarter valued at about $104,951,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of CAH stock opened at $154.50 on Friday. The company has a market capitalization of $36.71 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.34 and a beta of 0.71. The company’s 50-day simple moving average is $152.07 and its two-hundred day simple moving average is $150.25. Cardinal Health, Inc. has a one year low of $106.98 and a one year high of $168.44.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. During the same period in the prior year, the firm earned $1.84 EPS. 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. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.63%.

Insider Activity

In other news, CEO Stephen M. Mason sold 41,575 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 14,976 shares in the company, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAH. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Wells Fargo & Company reiterated an “overweight” rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Leerink Partners cut their price target on shares of Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Evercore ISI cut their price target on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.93.

Cardinal Health Profile

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.