Voleon Capital Management LP Sells 41,636 Shares of Cardinal Health, Inc. $CAH

Key Points

• Voleon Capital Management LP reduced its stake in Cardinal Health by 47.9%, selling over 41,000 shares and now holding 45,279 shares valued at approximately $6.24 million.
• Cardinal Health announced a quarterly dividend of $0.5107 per share, with a payout ratio of 31.63%, to be distributed on October 15th.
• Analysts maintain a "Moderate Buy" rating on Cardinal Health, with an average price target of $165.93 based on recent evaluations from twelve investment analysts.

Voleon Capital Management LP reduced its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 47.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,279 shares of the company's stock after selling 41,636 shares during the period. Voleon Capital Management LP's holdings in Cardinal Health were worth $6,238,000 as of its most recent filing with the Securities & Exchange Commission.

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

Cardinal Health Stock Down 0.1%

CAH traded down $0.14 on Friday, reaching $152.34. 1,121,839 shares of the company traded hands, compared to its average volume of 2,396,367. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44. The firm has a fifty day simple moving average of $154.75 and a two-hundred day simple moving average of $147.48. The company has a market cap of $36.38 billion, a P/E ratio of 23.62, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.5107 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Cardinal Health's payout ratio is currently 31.63%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Argus set a $189.00 price target on shares of Cardinal Health in a research note on Friday, August 22nd. Robert W. Baird lifted their price target on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Bank of America lifted their price target 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 research note on Tuesday, August 12th. Finally, Evercore ISI dropped their price target on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $165.93.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 35,901 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total value of $5,386,586.04. Following the completion of the sale, the chief executive officer owned 200,000 shares in the company, valued at approximately $30,008,000. The trade was a 15.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen M. Mason sold 41,575 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. This represents a 61.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is owned by corporate insiders.

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.