Cookson Peirce & Co. Inc. Cuts Stock Position in Cardinal Health, Inc. $CAH

Cookson Peirce & Co. Inc. cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 244,162 shares of the company’s stock after selling 1,572 shares during the quarter. Cardinal Health accounts for approximately 1.8% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 16th largest position. Cookson Peirce & Co. Inc. owned 0.10% of Cardinal Health worth $41,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in Cardinal Health by 3.6% during the second 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 last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake 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 valued at $2,991,000 after purchasing an additional 69 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Cardinal Health by 3.2% during 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 period. Community Bank & Trust Waco Texas boosted 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 valued at $940,000 after purchasing an additional 74 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 75 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Stephen M. Mason sold 41,575 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the transaction, the chief executive officer owned 26,085 shares in the company, valued at $3,881,969.70. This represents a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 107,705 shares of the company’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 owned 235,901 shares in the company, valued at approximately $35,125,658.90. This trade represents a 31.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is owned by company insiders.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $158.42 on Wednesday. The company has a market capitalization of $37.64 billion, a PE ratio of 24.56, a P/E/G ratio of 1.33 and a beta of 0.71. The company has a 50-day simple moving average of $152.10 and a two-hundred day simple moving average of $152.15. Cardinal Health, Inc. has a one year low of $106.98 and a one year high of $168.44.

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

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 dividend yield of 1.3%. Cardinal Health’s dividend payout ratio is 31.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CAH shares. Wells Fargo & Company restated an “overweight” rating and issued a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Leerink Partners lifted their price objective on Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Cardinal Health 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.