Cardinal Health, Inc. $CAH Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Cardinal Health stake by 53.8% in the third quarter, selling 16,439 shares and ending the period with 14,126 shares valued at about $3.14 million.
• Cardinal Health reported quarterly EPS of $2.91, beating the $2.42 consensus estimate, while revenue of $63.67 billion fell short of expectations. Revenue grew 5.8% year over year, and the company forecast fiscal 2027 EPS of $12.40–$12.60.
• Analysts give the stock a “Moderate Buy” consensus rating and an average price target of $270.69; meanwhile, company insiders sold about 210,000 shares over the past 90 days.

AIA Group Ltd trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 53.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,126 shares of the company's stock after selling 16,439 shares during the period. AIA Group Ltd's holdings in Cardinal Health were worth $3,143,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CAH. Provenance Wealth Advisors LLC raised its position in Cardinal Health by 1,940.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 408 shares of the company's stock worth $91,000 after purchasing an additional 388 shares during the last quarter. First Nebraska Trust Co bought a new stake in Cardinal Health in the third quarter valued at about $18,218,000. Next Level Wealth Planning LLC acquired a new position in Cardinal Health in the third quarter valued at about $44,000. Signature Equity Partners LLC grew its position in shares of Cardinal Health by 3.8% during the 3rd quarter. Signature Equity Partners LLC now owns 1,335 shares of the company's stock worth $297,000 after buying an additional 49 shares during the period. Finally, TSG Advice Partners LLC bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $3,279,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $261.77 on Thursday. The stock has a 50-day simple moving average of $239.14 and a 200 day simple moving average of $222.96. Cardinal Health, Inc. has a 52-week low of $180.45 and a 52-week high of $262.29. The company has a market cap of $60.62 billion, a PE ratio of 36.21, a PEG ratio of 1.52 and a beta of 0.53.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business had revenue of $63.67 billion during the quarter, compared to analysts' expectations of $65.15 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health's dividend payout ratio (DPR) is presently 28.49%.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 29,436 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the sale, the insider directly owned 33,076 shares of the company's stock, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 80,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total value of $18,859,200.00. Following the completion of the sale, the chief executive officer directly owned 235,132 shares in the company, valued at approximately $55,430,017.68. This represents a 25.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird upped their price objective on shares of Cardinal Health from $251.00 to $274.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Morgan Stanley lifted their target price on Cardinal Health from $265.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. Citigroup increased their price target on Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Wells Fargo & Company raised their price target on Cardinal Health from $245.00 to $277.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 price objective on Cardinal Health in a research report on Tuesday, August 11th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $270.69.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.

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