Avanza Fonder AB Sells 4,403 Shares of Cardinal Health, Inc. $CAH

Key Points

• Avanza Fonder AB has reduced its holdings in Cardinal Health, Inc. by 17.7%, owning 20,489 shares worth $3.44 million after selling 4,403 shares in the second quarter.
• Cardinal Health's stock has received multiple positive ratings from analysts, with target prices ranging from $170.00 to $203.00, indicating a general outlook of moderate buy across the board.
• The company recently announced a quarterly dividend of $0.5107 per share, which represents an annual yield of 1.4% and a payout ratio of 31.63%.

Avanza Fonder AB cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 17.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,489 shares of the company's stock after selling 4,403 shares during the quarter. Avanza Fonder AB's holdings in Cardinal Health were worth $3,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Cardinal Health by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after buying an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 457 shares during the period. Assenagon Asset Management S.A. lifted its position in Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after purchasing an additional 2,694 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after buying an additional 336 shares in the last quarter. Finally, North Capital Inc. bought a new position in shares of Cardinal Health during the 1st quarter worth about $83,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Cardinal Health stock traded down $1.99 during trading on Monday, reaching $147.61. 1,987,497 shares of the company were exchanged, compared to its average volume of 2,018,638. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44. The stock's 50 day simple moving average is $152.78 and its two-hundred day simple moving average is $148.84. The company has a market capitalization of $35.07 billion, a P/E ratio of 22.89, a PEG ratio of 1.27 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The company's quarterly 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. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's dividend payout ratio is 31.63%.

Insider Activity

In other Cardinal Health news, CEO Jason M. Hollar sold 35,901 shares of the business's 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 completion of the sale, the chief executive officer owned 200,000 shares of the company's stock, valued at $30,008,000. The trade was a 15.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider owned 15,431 shares of the company's stock, valued at $2,298,293.14. This trade represents a 64.59% 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 over the last quarter. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAH shares. Robert W. Baird boosted their price objective 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. Citigroup reiterated a "neutral" rating and set a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Leerink Partners reduced their price target on shares of 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, Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $165.93.

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.