AQR Capital Management LLC Lowers Stake in Cardinal Health, Inc. $CAH

Key Points

• AQR Capital Management LLC reduced its stake in Cardinal Health by 34.0%, selling 894,544 shares during the first quarter, leaving it with approximately 1.74 million shares valued at $239 million.
• Cardinal Health reported earnings of $2.08 EPS in its latest quarterly results, surpassing analysts' expectations of $2.03, despite total revenue falling short of estimates at $60.16 billion.
• The firm declared a quarterly dividend of $0.5107 per share, with an ex-dividend date set for October 1st, yielding an annualized 1.4% based on a current dividend payout ratio of 31.63%.

AQR Capital Management LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 34.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,738,090 shares of the company's stock after selling 894,544 shares during the period. AQR Capital Management LLC owned 0.73% of Cardinal Health worth $239,022,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 1,193,983 shares during the last quarter. Northern Trust Corp increased its stake in Cardinal Health by 3.5% during the first quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock worth $433,012,000 after acquiring an additional 105,154 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 worth $328,470,000 after acquiring an additional 2,249,241 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after acquiring an additional 94,768 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Cardinal Health by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company's stock worth $227,877,000 after acquiring an additional 52,714 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.1%

Shares of NYSE CAH traded up $0.14 during trading hours on Friday, reaching $149.48. The stock had a trading volume of 1,715,434 shares, compared to its average volume of 2,643,307. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.26 and a beta of 0.73. The business's fifty day moving average price is $155.86 and its two-hundred day moving average price is $146.97. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44.

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

Cardinal Health Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Cardinal Health's payout ratio is presently 31.63%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a research note on Tuesday, August 12th. Leerink Partners reduced their price objective on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Bank of America boosted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the company's stock in a transaction on 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 owned 15,431 shares in the company, valued at $2,298,293.14. This represents a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. This represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock valued at $40,489,525 in the last ninety days. 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.