Essex LLC Acquires Shares of 2,780 Cardinal Health, Inc. $CAH

Essex LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,780 shares of the company’s stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Cardinal Health by 3.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company’s stock valued at $297,000 after acquiring an additional 62 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Cardinal Health by 0.4% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company’s stock worth $2,991,000 after acquiring an additional 69 shares during the period. Perigon Wealth Management LLC grew its position in shares of Cardinal Health by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company’s stock valued at $389,000 after purchasing an additional 72 shares during the last quarter. Community Bank & Trust Waco Texas increased its stake in shares of Cardinal Health by 1.3% during the second quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company’s stock worth $940,000 after purchasing an additional 74 shares during the period. Finally, Yarger Wealth Strategies LLC lifted its holdings in Cardinal Health by 4.3% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 1,835 shares of the company’s stock worth $308,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CAH shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Evercore ISI decreased their price target on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Robert W. Baird increased their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Insider Activity

In other news, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the transaction, the insider owned 48,457 shares of the company’s stock, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their position. The transaction was disclosed in a 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 completion of the sale, the insider directly owned 15,431 shares in the company, 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. Over the last ninety days, insiders sold 271,676 shares of company stock valued at $40,489,525. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Stock Down 0.1%

CAH stock opened at $154.11 on Wednesday. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44. The business has a 50-day simple moving average of $151.92 and a 200 day simple moving average of $151.45. The company has a market cap of $36.61 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 1.30 and a beta of 0.71.

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

Cardinal Health Announces Dividend

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 dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health’s payout ratio is currently 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.