LMG Wealth Partners LLC Trims Stock Position in Cardinal Health, Inc. $CAH

LMG Wealth Partners LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 23.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 58,712 shares of the company’s stock after selling 18,246 shares during the quarter. Cardinal Health makes up approximately 2.0% of LMG Wealth Partners LLC’s holdings, making the stock its 11th largest holding. LMG Wealth Partners LLC’s holdings in Cardinal Health were worth $9,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Greykasell Wealth Strategies Inc. purchased a new position in Cardinal Health in the first quarter valued at $26,000. Jones Financial Companies Lllp increased its holdings in 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 buying an additional 14,034 shares in the last quarter. GW&K Investment Management LLC increased its holdings in 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 buying an additional 144 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in Cardinal Health in the second quarter valued at $49,000. Finally, Garde Capital Inc. purchased a new position in Cardinal Health in the first quarter valued at $52,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.0%

CAH stock opened at $156.29 on Monday. The stock has a market capitalization of $37.13 billion, a P/E ratio of 24.23, a P/E/G ratio of 1.32 and a beta of 0.71. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44. The firm has a 50-day simple moving average of $151.88 and a 200-day simple moving average of $151.91.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Cardinal Health’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a dividend of $0.5107 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. Cardinal Health’s payout ratio is presently 31.63%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAH. Leerink Partners lifted their price objective on shares of Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Evercore ISI cut their price objective on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. Argus set a $189.00 target price on shares of Cardinal Health in a research note on Friday, August 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Finally, Robert W. Baird boosted their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.00.

Insider Activity

In related news, CEO Jason M. Hollar sold 107,705 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the transaction, the chief executive officer directly owned 235,901 shares in the company, valued at approximately $35,125,658.90. The trade was a 31.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was 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 $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock valued at $40,489,525 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

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.