Cardinal Health, Inc. $CAH Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Cardinal Health, Inc. by 10.1%, selling 214,621 shares in the first quarter, now holding approximately 0.80% of the company valued at $260.7 million.
• Cardinal Health recently reported an earnings per share (EPS) of $2.08, exceeding estimates, but its quarterly revenue fell short of expectations at $60.16 billion.
• The company declared a quarterly dividend of $0.5107 per share, scheduled for payout on October 15th, resulting in an annualized yield of 1.4%.

Amundi cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,901,670 shares of the company's stock after selling 214,621 shares during the period. Amundi owned approximately 0.80% of Cardinal Health worth $260,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. lifted 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 worth $43,510,000 after purchasing an additional 15,956 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Cardinal Health by 17.2% in 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Cardinal Health by 25.8% in 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 in the last quarter. Golden State Wealth Management LLC lifted its holdings in Cardinal Health by 569.5% in 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 in the last quarter. Finally, North Capital Inc. acquired a new position in Cardinal Health in the 1st quarter worth $83,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of CAH stock traded down $0.40 on Wednesday, hitting $150.54. 398,946 shares of the stock traded hands, compared to its average volume of 2,400,367. The company has a market capitalization of $35.95 billion, a PE ratio of 23.36, a PEG ratio of 1.27 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. The company's fifty day moving average is $155.25 and its 200 day moving average is $147.29.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its 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 company had revenue of $60.16 billion for the quarter, compared to analysts' expectations 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 revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed 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. 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%.

Insider Activity

In other news, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the sale, the insider directly owned 14,976 shares in the company, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total value of $5,386,586.04. Following the sale, the chief executive officer owned 200,000 shares in the company, valued at $30,008,000. The trade was a 15.22% 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 valued at $40,489,525 over the last quarter. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. 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 note on Tuesday, June 10th. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Evercore ISI cut their target price on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Leerink Partners cut their target price on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, Robert W. Baird upped their price target on shares of Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average target price 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.