Artemis Investment Management LLP Sells 26,268 Shares of Cardinal Health, Inc. $CAH

Key Points

• Artemis Investment Management reduced its Cardinal Health stake by 7.1%, selling 26,268 shares and retaining 343,092 shares valued at approximately $76.3 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health shares rose 1.7% to $236.08. The company reported quarterly EPS of $2.91, beating estimates by $0.49, while revenue increased 5.8% year over year to $63.67 billion but fell short of analyst expectations.
• Analysts maintain a Moderate Buy consensus with an average price target of $266.56. Cardinal Health also declared a quarterly dividend of $0.5158 per share, equivalent to an annualized yield of about 0.9%.

Artemis Investment Management LLP lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 7.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 343,092 shares of the company's stock after selling 26,268 shares during the quarter. Artemis Investment Management LLP owned approximately 0.15% of Cardinal Health worth $76,338,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. LWM Advisors Inc. boosted its position in Cardinal Health by 4.4% during the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Cardinal Health by 2.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company's stock valued at $426,000 after acquiring an additional 43 shares in the last quarter. Kathmere Capital Management LLC lifted its position in shares of Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after acquiring an additional 49 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock worth $423,000 after acquiring an additional 50 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its position in shares of Cardinal Health by 4.5% during the first quarter. Gryphon Financial Partners LLC now owns 1,239 shares of the company's stock worth $262,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Up 1.7%

CAH traded up $3.92 on Thursday, reaching $236.08. The company had a trading volume of 304,966 shares, compared to its average volume of 1,967,351. The stock has a market capitalization of $54.67 billion, a PE ratio of 32.62, a P/E/G ratio of 1.40 and a beta of 0.50. Cardinal Health, Inc. has a 1 year low of $151.87 and a 1 year high of $258.30. The stock has a 50-day moving average price of $233.15 and a 200-day moving average price of $220.53.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is currently 28.49%.

Insider Buying and Selling

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica Mayer sold 29,436 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider owned 33,076 shares of the company's stock, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore reiterated an "outperform" rating and issued a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 27th. Morgan Stanley increased their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Zacks Research downgraded Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, TD Cowen boosted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.56.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.

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