Canada Pension Plan Investment Board Grows Position in Cardinal Health, Inc. $CAH

Key Points

• The Canada Pension Plan Investment Board increased its stake in Cardinal Health, Inc. by 34.8%, acquiring an additional 74,950 shares, bringing its total ownership to approximately 290,082 shares valued at $39.97 million.
• Several institutional investors have significantly increased their holdings in Cardinal Health, with Wellington Management Group boosting its position by 1,666.7% during the first quarter.
• Cardinal Health recently announced a quarterly dividend of $0.5107 per share, and the company’s annualized dividend yield stands at 1.4%.

Canada Pension Plan Investment Board increased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 290,082 shares of the company's stock after purchasing an additional 74,950 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of Cardinal Health worth $39,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Greykasell Wealth Strategies Inc. purchased a new position in Cardinal Health during the first quarter valued at $26,000. Tompkins Financial Corp raised its stake in shares of 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 buying an additional 128 shares during the period. GW&K Investment Management LLC raised its stake in Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after purchasing an additional 144 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Cardinal Health during the 4th quarter valued at approximately $36,000. Finally, NBC Securities Inc. bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $48,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CAH. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Argus set a $189.00 price target on Cardinal Health in a research note on Friday, August 22nd. Leerink Partners cut their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Evercore ISI lowered their target price on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.93.

Cardinal Health Stock Performance

NYSE CAH traded down $1.54 during mid-day trading on Thursday, reaching $149.02. 1,181,111 shares of the stock were exchanged, compared to its average volume of 2,413,963. Cardinal Health, Inc. has a 1 year low of $106.54 and a 1 year high of $168.44. The business's 50 day moving average is $156.54 and its 200-day moving average is $146.51. The company has a market capitalization of $35.58 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.26 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Cardinal Health's payout ratio is presently 31.63%.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 38,078 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the transaction, the insider directly owned 48,457 shares in the company, valued at $7,211,370.74. This trade represents a 44.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen M. Mason sold 41,575 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 transaction of $6,187,191.50. Following the sale, the chief executive officer 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. Insiders sold 271,676 shares of company stock valued at $40,489,525 over the last ninety days. 0.09% of the stock is owned by insiders.

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.