Cardinal Health, Inc. $CAH Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its stake in Cardinal Health, Inc. by 9.6%, now owning 76,081 shares valued at approximately $12.78 million.
• Several institutional investors, including Wellington Management Group and JPMorgan Chase & Co., significantly increased their holdings in Cardinal Health during the same period.
• Cardinal Health's recent earnings report showed an EPS of $2.08, surpassing estimates, with revenue of $60.16 billion, reflecting a 0.5% increase from the previous year.

Park National Corp OH cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,081 shares of the company's stock after selling 8,106 shares during the period. Park National Corp OH's holdings in Cardinal Health were worth $12,782,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAH. Wellington Management Group LLP increased its position in shares of Cardinal Health by 1,666.7% during the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock valued at $328,470,000 after acquiring an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cardinal Health by 40.0% in 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 grew its holdings in shares of Cardinal Health by 17,589.1% in 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. Zurich Insurance Group Ltd FI grew its holdings in shares of Cardinal Health by 4,935.9% in the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company's stock valued at $130,434,000 after purchasing an additional 927,950 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Cardinal Health in the first quarter worth approximately $106,065,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH traded down $1.83 during trading on Tuesday, hitting $148.44. The stock had a trading volume of 2,852,685 shares, compared to its average volume of 2,064,407. The firm has a market capitalization of $35.45 billion, a P/E ratio of 18.24, a PEG ratio of 1.27 and a beta of 0.73. The company's 50-day moving average price is $154.16 and its 200 day moving average price is $148.08. Cardinal Health, Inc. has a twelve month low of $106.54 and a twelve month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. Cardinal Health's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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 paid a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Cardinal Health's dividend payout ratio is 31.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CAH shares. Evercore ISI decreased 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. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Leerink Partners reduced their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.93.

Insiders Place Their Bets

In other news, CEO Stephen M. Mason sold 41,575 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $6,187,191.50. Following the completion of the transaction, the chief executive officer owned 26,085 shares in the company, valued at $3,881,969.70. This trade represents a 61.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the 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 completion of the transaction, the insider owned 48,457 shares of the company's stock, valued at $7,211,370.74. This represents a 44.00% 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 worth $40,489,525. Insiders own 0.09% of the company's stock.

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.