AMF Tjanstepension AB Buys New Position in Cardinal Health, Inc. $CAH

Key Points

• AMF Tjanstepension AB recently acquired 157,180 shares of Cardinal Health, valued at approximately $26.4 million, representing about 0.07% ownership of the company.
• Cardinal Health's stock price decreased by 2.5%, with a current market cap of $36.71 billion and a P/E ratio of 23.95.
• The company reported earnings of $2.08 per share, exceeding consensus estimates, and declared a quarterly dividend of $0.5107 per share to be paid on October 15th.

AMF Tjanstepension AB purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 157,180 shares of the company's stock, valued at approximately $26,406,000. AMF Tjanstepension AB owned about 0.07% of Cardinal Health at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAH. Wellington Management Group LLP grew its stake in Cardinal Health by 1,666.7% in the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after acquiring an additional 2,249,241 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 worth $575,327,000 after purchasing an additional 1,193,983 shares during the last quarter. Zurich Insurance Group Ltd FI grew its position in shares of Cardinal Health by 4,935.9% in the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company's stock valued at $130,434,000 after purchasing an additional 927,950 shares during the period. Nuveen LLC acquired a new position in Cardinal Health in the first quarter valued at $106,065,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Cardinal Health in the first quarter valued at $104,951,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Down 2.5%

Cardinal Health stock opened at $154.50 on Friday. The firm has a fifty day moving average of $152.07 and a 200-day moving average of $150.25. Cardinal Health, Inc. has a 52-week low of $106.98 and a 52-week high of $168.44. The firm has a market capitalization of $36.71 billion, a P/E ratio of 23.95, a PEG ratio of 1.34 and a beta of 0.71.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results 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. 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 for the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The business's quarterly 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, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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 of this dividend is Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.3%. Cardinal Health's payout ratio is 31.63%.

Analyst Ratings Changes

Several research firms have commented on CAH. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research report on Tuesday, August 12th. Citigroup reaffirmed a "neutral" rating and set a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Leerink Partners cut their price target on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Finally, Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $165.93.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 38,078 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 owned 48,457 shares of the company's stock, valued at $7,211,370.74. This trade represents a 44.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the sale, the insider owned 14,976 shares in the company, valued at $2,228,728.32. This represents a 47.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

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.

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