Board of the Pension Protection Fund Takes $1.70 Million Position in Cardinal Health, Inc. $CAH

Key Points

• The Board of the Pension Protection Fund has acquired a $1.70 million stake in Cardinal Health, purchasing 10,100 shares, which now represents about 1.8% of its total holdings.
• Cardinal Health has recently reported a profit of $2.08 EPS for the quarter, slightly above analysts' expectations, though its revenue of $60.16 billion was below estimates.
• Insider sales at Cardinal Health have been notable, with CEO Jason M. Hollar selling 35,901 shares, resulting in a significant decrease in his ownership stake.

Board of the Pension Protection Fund bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,100 shares of the company's stock, valued at approximately $1,697,000. Cardinal Health accounts for about 1.8% of Board of the Pension Protection Fund's holdings, making the stock its 5th largest holding.

Several other hedge funds have also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its stake in shares of Cardinal Health by 3.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company's stock valued at $297,000 after buying an additional 62 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Cardinal Health by 0.4% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company's stock valued at $2,991,000 after buying an additional 69 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Cardinal Health by 3.2% during the second quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company's stock valued at $389,000 after buying an additional 72 shares during the period. Community Bank & Trust Waco Texas increased its stake in shares of Cardinal Health by 1.3% during the second quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company's stock valued at $940,000 after buying an additional 74 shares during the period. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Cardinal Health by 11.2% during the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after buying an additional 77 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.2%

NYSE CAH opened at $156.86 on Friday. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44. The stock has a market cap of $37.27 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.33 and a beta of 0.71. The stock's fifty day moving average price is $152.09 and its 200-day moving average price is $151.21.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $2.08 EPS 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 firm had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. The company's quarterly 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, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's dividend payout ratio is currently 31.63%.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $6,187,191.50. Following the sale, the chief executive officer directly owned 26,085 shares in the company, valued at $3,881,969.70. This trade represents a 61.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAH shares. Argus set a $189.00 price target on Cardinal Health in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cardinal Health in a research note on Wednesday. Evercore ISI reduced their price target 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. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $166.00.

About Cardinal Health

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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