Cardinal Health, Inc. $CAH Shares Sold by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies LLC reduced its stake in Cardinal Health by 18.5%, holding 15,920 shares valued at approximately $2.6 million after selling 3,607 shares.
• Cardinal Health’s stock has garnered a Moderate Buy rating from analysts, with a consensus price target of $165.93 based on recent evaluations from several investment firms.
• The company announced a quarterly dividend of $0.5107 per share, reflecting a 1.3% dividend yield, with the ex-dividend date set for October 1st.

Insight Wealth Strategies LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,920 shares of the company's stock after selling 3,607 shares during the quarter. Insight Wealth Strategies LLC's holdings in Cardinal Health were worth $2,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Greykasell Wealth Strategies Inc. acquired a new position in Cardinal Health in the first quarter worth $26,000. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after purchasing an additional 14,034 shares during the period. Tompkins Financial Corp boosted its holdings in Cardinal Health by 106.7% in 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 period. GW&K Investment Management LLC boosted its holdings in Cardinal Health by 113.4% in 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 period. Finally, NBC Securities Inc. acquired a new position in Cardinal Health in the first quarter worth $48,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CAH shares. Bank of America lifted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. 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 report on Wednesday, August 13th. Leerink Partners cut their target price on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.93.

Insider Buying and Selling at Cardinal Health

In related news, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the sale, the insider directly owned 48,457 shares in the company, valued at $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 35,901 shares of Cardinal Health stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the sale, the chief executive officer owned 200,000 shares in the company, valued at approximately $30,008,000. This represents a 15.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.09% of the stock is currently owned by insiders.

Cardinal Health Stock Performance

CAH stock opened at $152.34 on Friday. Cardinal Health, Inc. has a 1 year low of $106.54 and a 1 year high of $168.44. The stock's fifty day moving average is $154.50 and its two-hundred day moving average is $147.79. The stock has a market capitalization of $36.38 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.29 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share 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 business had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. During the same period in the previous year, the business earned $1.84 earnings per share. The company'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. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's payout ratio is currently 31.63%.

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.

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