Raymond James Financial Inc. Has $78.22 Million Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Raymond James Financial Inc. increased its stake in Cardinal Health by 48.8% during the first quarter, owning approximately 0.24% of the company valued at $78.2 million after acquiring additional shares.
• Cardinal Health reported earnings of $2.08 per share for the last quarter, surpassing analysts' estimates by 5 cents, and revenue was slightly up by 0.5% year-over-year.
• The company declared a quarterly dividend of $0.5107 to be paid on October 15th, representing a 1.4% dividend yield and a payout ratio of 31.63%.

Raymond James Financial Inc. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 48.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 567,782 shares of the company's stock after purchasing an additional 186,325 shares during the quarter. Raymond James Financial Inc. owned approximately 0.24% of Cardinal Health worth $78,223,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CAH. Pinnacle Bancorp Inc. grew its position in Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after acquiring an additional 77 shares in the last quarter. Applied Finance Capital Management LLC grew its position in Cardinal Health by 1.4% in the first quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after acquiring an additional 85 shares in the last quarter. CSS LLC IL grew its position in Cardinal Health by 0.8% in the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after acquiring an additional 90 shares in the last quarter. Perigon Wealth Management LLC grew its position in Cardinal Health by 4.2% in the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after acquiring an additional 90 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV grew its position in Cardinal Health by 2.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after acquiring an additional 91 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Evercore ISI decreased their price objective on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Finally, Leerink Partners decreased their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $163.20.

Cardinal Health Stock Performance

Shares of CAH stock traded down $1.2190 during mid-day trading on Monday, reaching $146.8810. The company's stock had a trading volume of 284,252 shares, compared to its average volume of 2,411,490. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44. The company has a market cap of $35.07 billion, a P/E ratio of 22.77, a PEG ratio of 1.25 and a beta of 0.67. The firm's 50-day moving average is $159.02 and its two-hundred day moving average is $145.58.

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 analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business's revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed 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. 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 dividend payout ratio is currently 31.63%.

Insider Buying and Selling

In related news, CEO Jason M. Hollar sold 107,705 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the completion of the sale, the chief executive officer owned 235,901 shares in the company, valued at $35,125,658.90. This trade represents a 31.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ola M. Snow sold 28,151 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the sale, the insider owned 15,431 shares of the company's stock, valued at $2,298,293.14. This trade represents a 64.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,676 shares of company stock worth $40,489,525. Insiders own 0.09% of the company's stock.

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.