Birch Capital Management LLC Reduces Holdings in Cardinal Health, Inc. $CAH

Key Points

• Birch Capital Management LLC has reduced its stake in Cardinal Health, Inc. by 5.7%, now owning 26,781 shares valued at approximately $4.5 million, making it the firm's 17th largest holding.
• Several institutional investors, including Wellington Management Group and JPMorgan Chase & Co., have significantly increased their holdings in Cardinal Health, reflecting a trend of heightened institutional interest.
• Cardinal Health's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $166, while the company also recently announced a quarterly dividend of $0.5107 per share.

Birch Capital Management LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,781 shares of the company's stock after selling 1,609 shares during the quarter. Cardinal Health accounts for about 2.3% of Birch Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Birch Capital Management LLC's holdings in Cardinal Health were worth $4,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CAH. Wellington Management Group LLP boosted its holdings in Cardinal Health by 1,666.7% during the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock valued at $328,470,000 after acquiring an additional 2,249,241 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after acquiring an additional 1,193,983 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in Cardinal Health by 4,935.9% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company's stock worth $130,434,000 after buying an additional 927,950 shares during the period. Nuveen LLC purchased a new stake in Cardinal Health in the 1st quarter worth approximately $106,065,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Cardinal Health in the 1st quarter worth approximately $104,951,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird increased their price objective on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a report on Tuesday, August 12th. Citigroup reiterated a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Finally, Argus set a $189.00 price objective on Cardinal Health in a report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $166.00.

Insider Activity at Cardinal Health

In related news, insider Michelle D. Greene sold 13,500 shares of the firm'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 transaction of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares of the company's stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 107,705 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total value of $16,037,274.50. Following the transaction, the chief executive officer directly owned 235,901 shares of the company's stock, valued at approximately $35,125,658.90. This trade represents a 31.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 over the last quarter. 0.12% of the stock is currently owned by company insiders.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $157.24 on Friday. Cardinal Health, Inc. has a 52-week low of $106.98 and a 52-week high of $168.44. The firm has a market capitalization of $37.36 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.33 and a beta of 0.71. The stock has a 50 day moving average price of $152.07 and a 200-day moving average price of $150.92.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its 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 firm had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The business'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 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. 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 (DPR) is 31.63%.

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.

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