Adage Capital Partners GP L.L.C. Sells 163,305 Shares of Cardinal Health, Inc. $CAH

Key Points

• Adage Capital Partners GP L.L.C. significantly reduced its holdings in Cardinal Health, Inc. by 72.2% in the 1st quarter, decreasing from 226,100 shares to 62,795 shares, valued at approximately $8.65 million.
• Cardinal Health recently reported earnings of $2.08 per share for the quarter, surpassing analyst expectations, but its revenue of $60.16 billion fell short of the anticipated $60.91 billion.
• The company declared a quarterly dividend of $0.5107 per share, which will be distributed on October 15, reflecting an annualized yield of 1.4%.

Adage Capital Partners GP L.L.C. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 72.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,795 shares of the company's stock after selling 163,305 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Cardinal Health were worth $8,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after buying an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Cardinal Health by 17.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after buying an additional 457 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after buying an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Cardinal Health by 569.5% during the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after buying an additional 336 shares during the last quarter. Finally, North Capital Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at $83,000. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the subject of a number of recent research reports. Citigroup reissued a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Leerink Partners dropped their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $165.93.

Cardinal Health Trading Down 0.1%

Shares of CAH traded down $0.14 during trading hours on Friday, reaching $152.34. 1,162,569 shares of the company traded hands, compared to its average volume of 2,177,648. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.29 and a beta of 0.73. Cardinal Health, Inc. has a 12-month low of $106.54 and a 12-month high of $168.44. The stock's fifty day moving average price is $154.50 and its 200 day moving average price is $147.65.

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

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's payout ratio is presently 31.63%.

Insider Transactions at Cardinal Health

In related news, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the sale, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The shares were 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 owned 14,976 shares of the company's stock, valued at $2,228,728.32. The trade was a 47.41% 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 valued at $40,489,525 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

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.