Cardinal Health, Inc. $CAH Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc has decreased its position in Cardinal Health, Inc. by 72.1%, selling 520,475 shares and now owning approximately 200,940 shares valued at $27.6 million.
• Multiple hedge funds have adjusted their stakes, with JPMorgan Chase & Co. increasing its position by 40% and GAMMA Investing LLC boosting theirs by an astounding 17,589.1%.
• Analysts have set a consensus price target of $163.20 for Cardinal Health, with the stock currently receiving thirteen buy ratings and three hold ratings.

Aberdeen Group plc cut its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 72.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,940 shares of the company's stock after selling 520,475 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of Cardinal Health worth $27,602,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CAH. Principal Financial Group Inc. raised its stake in shares of Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after buying an additional 15,956 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after buying an additional 457 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after buying an additional 2,694 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after buying an additional 336 shares during the period. Finally, North Capital Inc. acquired a new position in shares of Cardinal Health during the 1st quarter worth approximately $83,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jason M. Hollar sold 107,705 shares of the stock in a transaction dated Tuesday, August 19th. The stock was 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 of the company's stock, valued at approximately $35,125,658.90. This represents a 31.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 38,078 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 $5,666,767.96. Following the transaction, the insider directly owned 48,457 shares in the company, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,775 shares of company stock worth $35,102,939 in the last quarter. Insiders own 0.09% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $1.2140 during mid-day trading on Thursday, reaching $151.7360. 3,325,063 shares of the company's stock were exchanged, compared to its average volume of 2,411,170. The firm has a market capitalization of $36.23 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.26 and a beta of 0.67. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44. The company's 50-day moving average is $159.46 and its 200-day moving average is $144.99.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 business had revenue of $60.16 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health's dividend payout ratio is currently 31.63%.

Analyst Ratings Changes

Several brokerages recently commented on CAH. Robert W. Baird boosted their price target on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Bank of America boosted their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Leerink Partners dropped their price target on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $163.20.

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.