Ascent Group LLC Buys 2,491 Shares of Cardinal Health, Inc. $CAH

Key Points

• Ascent Group LLC increased its stake in Cardinal Health, Inc. by 60.6% during Q2, acquiring an additional 2,491 shares to hold a total of 6,600 shares valued at approximately $1,109,000.
• Cardinal Health announced a quarterly dividend of $0.5107 per share, representing an annualized amount of $2.04 and a yield of 1.3%.
• The company's recent quarterly earnings showed $2.08 earnings per share (EPS), exceeding estimates, while overall revenue was slightly below expectations at $60.16 billion.

Ascent Group LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 60.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,600 shares of the company's stock after acquiring an additional 2,491 shares during the period. Ascent Group LLC's holdings in Cardinal Health were worth $1,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised 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 buying an additional 1,193,983 shares during the last quarter. Northern Trust Corp grew its holdings in Cardinal Health by 3.5% during the 1st 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 period. Wellington Management Group LLP raised its position in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 52,714 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Cardinal Health by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,246,788 shares of the company's stock worth $171,749,000 after purchasing an additional 7,940 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of CAH opened at $154.50 on Monday. The firm has a market capitalization of $36.71 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.31 and a beta of 0.71. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44. The stock has a 50 day moving average price of $152.07 and a two-hundred day moving average price of $150.50.

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, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter in the prior year, the company posted $1.84 earnings per share. Cardinal Health's revenue was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's dividend payout ratio is presently 31.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird increased their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Argus set a $189.00 price target on shares of Cardinal Health in a research note on Friday, August 22nd. Citigroup reaffirmed a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $165.93.

Insiders Place Their Bets

In other Cardinal Health news, CEO Stephen M. Mason sold 41,575 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 $6,187,191.50. Following the transaction, the chief executive officer owned 26,085 shares of the company's stock, valued at $3,881,969.70. This trade represents a 61.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares in the company, valued at $2,228,728.32. The trade was 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 owned by corporate insiders.

Cardinal Health 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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