Angeles Wealth Management LLC Reduces Holdings in Cardinal Health, Inc. $CAH

Angeles Wealth Management LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,509 shares of the company’s stock after selling 227 shares during the quarter. Angeles Wealth Management LLC’s holdings in Cardinal Health were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cardinal Health during the 1st quarter valued at $26,000. Jones Financial Companies Lllp increased its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. GW&K Investment Management LLC increased its stake in Cardinal Health by 113.4% in the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in Cardinal Health in the 2nd quarter worth about $49,000. Finally, Garde Capital Inc. bought a new position in Cardinal Health in the 1st quarter worth about $52,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAH has been the topic of a number of research analyst reports. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research note on Tuesday, August 12th. Evercore ISI decreased their target price on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Finally, Leerink Partners increased their price objective on Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.00.

Insider Activity at Cardinal Health

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 completion of the sale, the chief executive officer directly owned 200,000 shares in the company, valued at $30,008,000. This represents a 15.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen M. Mason sold 41,575 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares of the company’s stock, valued at $3,881,969.70. This represents a 61.45% 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 worth $40,489,525 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Trading Up 2.0%

Shares of Cardinal Health stock opened at $156.29 on Friday. The firm has a market capitalization of $37.13 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 1.32 and a beta of 0.71. The business’s 50-day moving average price is $151.88 and its 200-day moving average price is $151.81. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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 negative return on equity of 74.45% and a net margin of 0.70%.The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a dividend of $0.5107 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.3%. Cardinal Health’s dividend 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.