Caisse DE Depot ET Placement DU Quebec Has $17.82 Million Position in Cardinal Health, Inc. $CAH

Key Points

• Caisse de Depot et Placement du Quebec reduced its stake in Cardinal Health by 40.1%, selling 86,523 shares, and now owns approximately 0.05% of the company worth about $17.8 million.
• Insider selling was notable, with transactions from key executives totaling $40.5 million in the last ninety days as they reduced their ownership significantly.
• Cardinal Health's most recent quarterly earnings exceeded analyst estimates, with $2.08 EPS reported, beating the consensus estimate of $2.03.

Caisse DE Depot ET Placement DU Quebec reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,351 shares of the company's stock after selling 86,523 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.05% of Cardinal Health worth $17,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. bought a new position in Cardinal Health in the first quarter worth $26,000. Tompkins Financial Corp lifted its position in Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares during the period. Itau Unibanco Holding S.A. bought a new position in Cardinal Health in the fourth quarter worth $36,000. GW&K Investment Management LLC lifted its position in Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after purchasing an additional 144 shares during the period. Finally, Measured Risk Portfolios Inc. bought a new position in Cardinal Health in the fourth quarter worth $47,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAH has been the subject of several research reports. Evercore ISI reduced their target price on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Leerink Partners cut their price objective on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Citigroup reissued a "neutral" rating and set a $170.00 price objective (up 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.93.

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 transaction of $5,386,586.04. Following the completion of the sale, the chief executive officer directly owned 200,000 shares of the company's stock, valued at approximately $30,008,000. The trade was a 15.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 14,976 shares of the company's stock, valued at $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 271,676 shares of company stock worth $40,489,525. Corporate insiders own 0.09% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE:CAH traded down $0.92 during midday trading on Monday, reaching $148.60. The company's stock had a trading volume of 2,723,208 shares, compared to its average volume of 2,798,179. Cardinal Health, Inc. has a fifty-two week low of $106.54 and a fifty-two week high of $168.44. The company has a market capitalization of $35.48 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.26 and a beta of 0.73. The business's fifty day simple moving average is $157.41 and its 200-day simple moving average is $146.30.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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 issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is currently 31.63%.

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.