Alyeska Investment Group L.P. Takes $92.22 Million Position in Cardinal Health, Inc. $CAH

Key Points

• Alyeska Investment Group L.P. acquired a new stake in Cardinal Health, purchasing 669,369 shares worth approximately $92.2 million, which represents 0.28% of the company's stock.
• Cardinal Health's quarterly earnings beat estimates with $2.08 EPS, while revenue slightly missed expectations at $60.16 billion.
• The company announced a quarterly dividend of $0.5107 per share, translating to an annualized dividend yield of 1.4% for shareholders.

Alyeska Investment Group L.P. purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 669,369 shares of the company's stock, valued at approximately $92,219,000. Alyeska Investment Group L.P. owned 0.28% of Cardinal Health as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Empyrean Capital Partners LP bought a new position in Cardinal Health during the first quarter worth $52,215,000. Federation des caisses Desjardins du Quebec boosted its stake in Cardinal Health by 1.3% during the first quarter. Federation des caisses Desjardins du Quebec now owns 54,496 shares of the company's stock worth $7,508,000 after buying an additional 696 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Cardinal Health during the first quarter worth $939,000. MAI Capital Management boosted its stake in Cardinal Health by 1.7% during the first quarter. MAI Capital Management now owns 6,898 shares of the company's stock worth $950,000 after buying an additional 114 shares in the last quarter. Finally, Quarry LP boosted its stake in Cardinal Health by 832.8% during the first quarter. Quarry LP now owns 4,403 shares of the company's stock worth $607,000 after buying an additional 3,931 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Up 0.1%

NYSE CAH traded up $0.14 on Friday, hitting $149.48. 1,715,434 shares of the company were exchanged, compared to its average volume of 2,643,307. The firm has a 50 day moving average of $155.86 and a two-hundred day moving average of $146.97. The company has a market cap of $35.69 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.26 and a beta of 0.73. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44.

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

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

CAH has been the topic of a number of recent research reports. Wells Fargo & Company reiterated an "overweight" rating and set a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Bank of America lifted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research note on Tuesday, August 12th. Twelve 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.93.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the sale, the insider directly owned 15,431 shares of the company's stock, valued at approximately $2,298,293.14. The trade was a 64.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the business's 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 sale, the insider directly owned 48,457 shares of the company's stock, valued at $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 over the last quarter. Corporate insiders own 0.09% of the company's stock.

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.