L2 Asset Management LLC Takes $8.72 Million Position in Cardinal Health, Inc. $CAH

L2 Asset Management LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 36,690 shares of the company’s stock, valued at approximately $8,716,000. Cardinal Health comprises approximately 0.9% of L2 Asset Management LLC’s portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Bank of New York Mellon Corp acquired a new stake in shares of Cardinal Health during the 2nd quarter worth about $308,640,000. Kornitzer Capital Management Inc. KS raised its position in shares of Cardinal Health by 100.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after buying an additional 9,120 shares during the last quarter. First Nebraska Trust Co acquired a new position in shares of Cardinal Health in the second quarter valued at approximately $20,050,000. Byrne Financial Freedom LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $1,574,000. Finally, Belleair Asset Management LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $1,100,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH opened at $232.13 on Tuesday. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The company’s 50 day simple moving average is $232.13 and its 200 day simple moving average is $217.96. The stock has a market capitalization of $53.99 billion, a PE ratio of 32.11, a P/E/G ratio of 1.23 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 12.54 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s payout ratio is currently 28.49%.

Insider Buying and Selling at Cardinal Health

In related news, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the transaction, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 44,529 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the sale, the chief executive officer directly owned 190,603 shares of the company’s stock, valued at approximately $45,016,616.54. This trade represents a 18.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Mizuho raised their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Robert W. Baird boosted their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. UBS Group increased their price target on Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Citigroup lifted their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $266.56.

Trending Headlines about Cardinal Health

Here are the key news stories impacting Cardinal Health this week:

• Positive Sentiment: Cardinal Health’s specialty business remains a key growth driver, supporting the case for retaining CAH in portfolios. The company has also issued fiscal 2027 adjusted EPS guidance of $12.40–$12.60, broadly consistent with analyst expectations. Reasons to Retain Cardinal Health Stock in Your Portfolio for Now
• Positive Sentiment: Recent coverage highlights Cardinal Health’s efforts to expand its healthcare reach, potentially creating additional growth opportunities beyond its core pharmaceutical distribution operations. Why Is Cardinal Health Expanding Its Healthcare Reach?
• Positive Sentiment: Cardinal Health’s latest quarterly results provided support for the stock: earnings per share exceeded consensus estimates, while revenue increased year over year. The company’s medical and pharmaceutical services also remain central to its relative performance within the healthcare providers and services group. Winners and Losers of Q2: Cardinal Health vs. Healthcare Providers and Services Stocks

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.