Oak Harvest Investment Services Trims Position in Cardinal Health, Inc. $CAH

Oak Harvest Investment Services cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 5.1% during the 2nd quarter, Holdings Channel reports. The fund owned 17,765 shares of the company’s stock after selling 961 shares during the period. Oak Harvest Investment Services’ holdings in Cardinal Health were worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC bought a new position in Cardinal Health during the second quarter valued at approximately $1,911,000. Atlantic Union Bankshares Corp bought a new position in shares of Cardinal Health during the second quarter valued at approximately $79,000. KLP Kapitalforvaltning AS increased its stake in Cardinal Health by 4.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock worth $19,185,000 after buying an additional 4,400 shares during the period. Czech National Bank lifted its stake in shares of Cardinal Health by 5.1% during the 2nd quarter. Czech National Bank now owns 58,341 shares of the company’s stock worth $9,801,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in Cardinal Health by 4,935.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock valued at $130,434,000 after acquiring an additional 927,950 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAH shares. Robert W. Baird set a $232.00 price objective on shares of Cardinal Health in a research report on Friday, October 31st. TD Cowen upped their target price on shares of Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Citigroup raised their price objective on shares of Cardinal Health from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Argus upped their target price on shares of Cardinal Health from $189.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Mizuho increased their price objective on Cardinal Health from $170.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $205.00.

Cardinal Health Trading Up 0.8%

Shares of Cardinal Health stock opened at $205.94 on Friday. The business’s fifty day moving average price is $164.46 and its 200 day moving average price is $158.49. The stock has a market capitalization of $48.93 billion, a P/E ratio of 31.93, a PEG ratio of 1.39 and a beta of 0.72. Cardinal Health, Inc. has a twelve month low of $114.60 and a twelve month high of $207.47.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. The company had revenue of $64.01 billion during the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio is presently 30.77%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 35,901 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the completion of the sale, the chief executive officer directly owned 200,000 shares of the company’s stock, valued at approximately $30,008,000. This represents a 15.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the sale, the insider directly owned 14,976 shares of the company’s stock, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, 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 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.