Cardinal Health, Inc. $CAH Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Cardinal Health, Inc. by 3.2% during the first quarter, holding 57,112 shares valued at approximately $7.87 million after selling 1,865 shares.
• Cardinal Health reported earnings per share (EPS) of $2.08 for the last quarter, exceeding analysts' expectations of $2.03, while its revenue was slightly below estimates at $60.16 billion.
• The company announced a quarterly dividend of $0.5107, representing an annual yield of 1.4%, with a payout ratio of 31.63% and a record date set for October 1st.

Corebridge Financial Inc. cut its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,112 shares of the company's stock after selling 1,865 shares during the period. Corebridge Financial Inc.'s holdings in Cardinal Health were worth $7,868,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new stake in Cardinal Health during the first quarter worth $26,000. Tompkins Financial Corp boosted its holdings in 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 buying an additional 128 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in 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 buying an additional 144 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Cardinal Health during the fourth quarter worth $36,000. Finally, NBC Securities Inc. acquired a new position in Cardinal Health during the first quarter worth $48,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jessica L. Mayer sold 38,078 shares of the firm'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 $5,666,767.96. Following the completion of the sale, the insider directly owned 48,457 shares in the company, valued at approximately $7,211,370.74. This trade represents a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason M. Hollar sold 35,901 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was 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 of the company's stock, valued at approximately $30,008,000. The trade was a 15.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 in the last quarter. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CAH shares. Wall Street Zen cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company restated an "overweight" rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Morgan Stanley restated an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Robert W. Baird upped their price objective on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Finally, 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. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $165.93.

Cardinal Health Stock Performance

Shares of NYSE CAH traded up $0.93 during mid-day trading on Tuesday, reaching $149.71. The company's stock had a trading volume of 856,708 shares, compared to its average volume of 2,420,459. The stock has a 50-day moving average of $157.10 and a two-hundred day moving average of $146.46. The stock has a market capitalization of $35.75 billion, a P/E ratio of 23.20, a P/E/G ratio of 1.26 and a beta of 0.73. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion during 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%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is presently 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.