Blue Trust Inc. Decreases Stock Position in Cardinal Health, Inc. $CAH

Blue Trust Inc. lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,861 shares of the company’s stock after selling 247 shares during the quarter. Blue Trust Inc.’s holdings in Cardinal Health were worth $481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its position in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at approximately $52,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Cardinal Health in the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the transaction, the chief executive officer owned 200,000 shares of the company’s stock, valued at approximately $30,008,000. This represents a 15.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider owned 15,431 shares of the company’s stock, valued at $2,298,293.14. This trade represents a 64.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 271,676 shares of company stock valued at $40,489,525. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Wells Fargo & Company reiterated an “overweight” rating and set a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Evercore ISI reduced their price objective on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a research report on Tuesday, August 12th. Finally, Argus set a $189.00 price objective on Cardinal Health in a research report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.00.

Cardinal Health Stock Down 0.2%

NYSE:CAH opened at $156.86 on Monday. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44. The company has a market capitalization of $37.27 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.33 and a beta of 0.71. The stock’s fifty day moving average is $152.09 and its two-hundred day moving average is $151.31.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter in the previous year, the business earned $1.84 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company 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 $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health’s payout ratio is presently 31.63%.

Cardinal Health Company 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.