Atria Wealth Solutions Inc. Sells 38,376 Shares of Cardinal Health, Inc. $CAH

Key Points

• Atria Wealth Solutions Inc. sold 38,376 shares of Cardinal Health, decreasing its holdings by 67.6%, and now owns 18,352 shares valued at approximately $3,082,000.
• Cardinal Health reported a quarterly earnings per share of $2.08, surpassing analysts' expectations of $2.03, while revenue for the quarter was $60.16 billion, slightly below estimates.
• The company declared a quarterly dividend of $0.5107 per share set to be paid on October 15th, reflecting an annualized yield of 1.3% with a payout ratio of 31.63%.

Atria Wealth Solutions Inc. trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 67.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,352 shares of the company's stock after selling 38,376 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cardinal Health were worth $3,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Cardinal Health by 28.4% in the first quarter. GAMMA Investing LLC now owns 7,004 shares of the company's stock valued at $965,000 after acquiring an additional 1,549 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cardinal Health by 15.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,790 shares of the company's stock valued at $4,931,000 after acquiring an additional 4,693 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Cardinal Health by 8.2% in the first quarter. Brighton Jones LLC now owns 4,457 shares of the company's stock valued at $614,000 after acquiring an additional 339 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Cardinal Health in the first quarter valued at about $3,542,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Shares of CAH stock opened at $154.11 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $106.98 and a fifty-two week high of $168.44. The firm has a market capitalization of $36.61 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.30 and a beta of 0.71. The stock's 50-day simple moving average is $151.92 and its 200-day simple moving average is $151.45.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly 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. 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 for the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The company's revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health's payout ratio is presently 31.63%.

Insider Buying and Selling at Cardinal Health

In related news, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction dated 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 completion of the sale, the insider owned 14,976 shares of the company's stock, valued at $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 35,901 shares of Cardinal Health stock in a transaction dated 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 directly owned 200,000 shares of the company's stock, valued at $30,008,000. This trade represents a 15.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,676 shares of company stock valued at $40,489,525. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CAH. Argus set a $189.00 price objective on Cardinal Health in a report on Friday, August 22nd. Leerink Partners lifted their price objective on Cardinal Health from $186.00 to $187.00 and gave the company an "outperform" rating in a report on Monday, October 6th. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, 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 note on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $166.00.

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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