Nippon Life Global Investors Americas Inc. Boosts Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Nippon Life Global Investors Americas Inc. increased its stake in Cardinal Health by 9.6%, now owning 312,410 shares valued at approximately $43 million, making it the 18th largest holding in their portfolio.
• Cardinal Health reported $2.08 EPS for its latest quarter, beating analyst expectations, although revenue was slightly below consensus at $60.16 billion.
• The company declared a quarterly dividend of $0.5107, which will be paid on October 15th, representing an annualized yield of 1.4% and a payout ratio of 31.63%.

Nippon Life Global Investors Americas Inc. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 312,410 shares of the company's stock after purchasing an additional 27,260 shares during the period. Cardinal Health makes up approximately 2.1% of Nippon Life Global Investors Americas Inc.'s portfolio, making the stock its 18th biggest holding. Nippon Life Global Investors Americas Inc. owned 0.13% of Cardinal Health worth $43,041,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CAH. JPMorgan Chase & Co. grew its position in shares of 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. Northern Trust Corp boosted its holdings in shares of Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock worth $433,012,000 after purchasing an additional 105,154 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 worth $328,470,000 after purchasing an additional 2,249,241 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cardinal Health by 4.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after purchasing an additional 94,768 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Cardinal Health by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company's stock worth $227,877,000 after purchasing an additional 52,714 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH traded down $0.62 during mid-day trading on Wednesday, hitting $150.32. The company had a trading volume of 719,736 shares, compared to its average volume of 2,402,525. The company has a market capitalization of $35.90 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44. The business's 50-day simple moving average is $155.25 and its 200 day simple moving average is $147.29.

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 (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 business had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. During the same period last year, the firm earned $1.84 earnings per share. The company's revenue for the quarter 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, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

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

Insider Buying and Selling at Cardinal Health

In other news, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health 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 approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $5,666,767.96. Following the sale, the insider owned 48,457 shares in the company, valued at $7,211,370.74. This trade represents a 44.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAH. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird upped their price objective on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a report on Tuesday, August 12th. Finally, Bank of America boosted their target price on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Twelve equities research 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, the company presently 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.