Wellington Management Group LLP Raises Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Wellington Management Group LLP significantly increased its stake in Cardinal Health by 1,666.7%, now owning approximately 2.4 million shares valued at $328.5 million.
• Cardinal Health's quarterly earnings beat expectations with an EPS of $2.08, although revenue fell short of estimates at $60.16 billion.
• The company declared a quarterly dividend of $0.5107 per share, with a yield of 1.4%, to be paid on October 15th.

Wellington Management Group LLP raised its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1,666.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,384,192 shares of the company's stock after buying an additional 2,249,241 shares during the period. Wellington Management Group LLP owned about 1.00% of Cardinal Health worth $328,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CAH. Castlekeep Investment Advisors LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at about $141,963,000. JPMorgan Chase & Co. lifted its position in shares of Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after purchasing an additional 959,486 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Cardinal Health during the fourth quarter valued at about $92,811,000. Finally, Nuveen LLC bought a new position in shares of Cardinal Health during the first quarter valued at about $106,065,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CAH. Leerink Partners dropped their price target on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Insider Transactions at Cardinal Health

In related news, insider Michelle D. Greene sold 13,500 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares of the company's stock, valued at approximately $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ola M. Snow sold 28,151 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares of the company's stock, valued at approximately $2,298,293.14. This represents a 64.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.09% of the stock is currently owned by insiders.

Cardinal Health Price Performance

Shares of CAH traded down $1.50 during trading hours on Monday, hitting $146.60. The company's stock had a trading volume of 329,225 shares, compared to its average volume of 2,411,740. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.25 and a beta of 0.67. The business has a 50 day simple moving average of $159.02 and a two-hundred day simple moving average of $145.58. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its 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 was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Cardinal Health's dividend payout ratio (DPR) is presently 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.