Empowered Funds LLC Boosts Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Empowered Funds LLC increased its stake in Cardinal Health, Inc. by 212.7%, bringing its total holdings to $12.84 million, after acquiring additional shares in the first quarter.
• Several other hedge funds have also increased their positions in Cardinal Health during the same period, with 87.17% of the stock now owned by institutional investors and hedge funds.
• Cardinal Health's CEO, Jason M. Hollar, recently sold over 107,000 shares at an average price of $148.90, resulting in a significant decrease in his holdings, as insiders sold a total of $40.49 million worth of stock in the past three months.

Empowered Funds LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 212.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,561 shares of the company's stock after buying an additional 63,637 shares during the period. Empowered Funds LLC's holdings in Cardinal Health were worth $12,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Cardinal Health by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after purchasing an additional 15,956 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after purchasing an additional 457 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after buying an additional 2,694 shares during the period. Golden State Wealth Management LLC boosted its stake in Cardinal Health by 569.5% during the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after buying an additional 336 shares during the period. Finally, North Capital Inc. bought a new stake in Cardinal Health during the first quarter valued at $83,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Citigroup reiterated a "neutral" rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Wall Street Zen downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Jefferies Financial Group set a $150.00 price target on Cardinal Health in a report on Tuesday, August 12th. Eleven investment 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.93.

Insider Buying and Selling

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider owned 15,431 shares in the company, valued at approximately $2,298,293.14. This trade represents a 64.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was 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 directly owned 48,457 shares in the company, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 in the last 90 days. 0.09% of the stock is owned by insiders.

Cardinal Health Price Performance

Shares of CAH stock traded down $0.14 during mid-day trading on Friday, hitting $152.34. 1,162,569 shares of the stock traded hands, compared to its average volume of 2,399,280. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44. The stock has a market cap of $36.38 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.26 and a beta of 0.73. The stock's fifty day moving average is $154.75 and its two-hundred day moving average is $147.48.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company's quarterly 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, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. Cardinal Health's dividend 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.