Advisors Capital Management LLC Makes New Investment in Cardinal Health, Inc. $CAH

Key Points

• Advisors Capital Management LLC acquired 1,851 shares of Cardinal Health, valued at approximately $255,000, as part of its investment strategy in the 1st quarter.
• Cardinal Health's stock is trading at $152.34, with a market capitalization of $36.38 billion, and a recent earnings report showing $2.08 EPS, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.5107 per share, which will be paid on October 15th, representing an annualized yield of 1.3%.

Advisors Capital Management LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,851 shares of the company's stock, valued at approximately $255,000.

Several other institutional investors also recently modified their holdings of CAH. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 1,666.7% during the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock valued at $328,470,000 after buying an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after buying an additional 1,193,983 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after buying an additional 959,486 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its position in shares of Cardinal Health by 4,935.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company's stock valued at $130,434,000 after buying an additional 927,950 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Cardinal Health during the first quarter valued at $106,065,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 1.2%

CAH traded down $1.83 on Tuesday, hitting $148.44. 2,852,685 shares of the company's stock traded hands, compared to its average volume of 2,395,083. The company's 50 day simple moving average is $154.16 and its 200-day simple moving average is $148.08. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.29 and a beta of 0.73. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion for 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 quarter last year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is 31.63%.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction that occurred on 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 completion of the sale, 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 271,676 shares of company stock worth $40,489,525 in the last three months. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CAH shares. Leerink Partners lowered their target price on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Evercore ISI lowered their target price on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Bank of America increased their target price on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and an average price target of $165.93.

Cardinal Health Company 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.