Cardinal Health, Inc. $CAH Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its holdings in Cardinal Health, Inc. by 3.5%, selling 1,763 shares, leaving them with 47,977 shares valued at approximately $6.61 million.
• Cardinal Health reported earnings of $2.08 per share for the last quarter, exceeding analysts' expectations of $2.03, with revenue of $60.16 billion.
• The company declared a quarterly dividend of $0.5107 per share, which translates to an annualized yield of 1.4%, set to be paid on October 15th.

Baird Financial Group Inc. cut its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,977 shares of the company's stock after selling 1,763 shares during the period. Baird Financial Group Inc.'s holdings in Cardinal Health were worth $6,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. purchased a new position in shares of Cardinal Health during the first quarter worth about $26,000. Tompkins Financial Corp grew its holdings in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after purchasing an additional 128 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after purchasing an additional 144 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of Cardinal Health during the fourth quarter worth about $47,000. Finally, NBC Securities Inc. purchased a new position in shares of Cardinal Health during the first quarter worth about $48,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.6%

Shares of CAH opened at $150.44 on Thursday. Cardinal Health, Inc. has a twelve month low of $106.54 and a twelve month high of $168.44. The stock's 50 day moving average is $156.54 and its two-hundred day moving average is $146.51. The firm has a market capitalization of $35.92 billion, a PE ratio of 23.32, a P/E/G ratio of 1.26 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $60.91 billion. During the same period last year, the firm earned $1.84 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.63%.

Insider Activity at Cardinal Health

In other news, insider Michelle D. Greene sold 13,500 shares of Cardinal Health 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 sale, the insider directly owned 14,976 shares in the company, valued at approximately $2,228,728.32. This trade represents a 47.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health 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 $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a report on Tuesday, August 12th. Citigroup reissued a "neutral" rating and set a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Robert W. Baird raised their price target on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Finally, Argus set a $189.00 price target on Cardinal Health in a report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $165.93.

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.

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