Empyrean Capital Partners LP Makes New Investment in Cardinal Health, Inc. $CAH

Key Points

• Empyrean Capital Partners LP has acquired 379,000 shares of Cardinal Health, Inc., valued at approximately $52.2 million, making it the firm's 13th largest position.
• Insider transactions included Michelle D. Greene selling 13,500 shares and CEO Jason M. Hollar selling 35,901 shares, both resulting in significant decreases in their ownership.
• Cardinal Health has announced a quarterly dividend of $0.5107, with an annualized yield of 1.4%, to be paid on October 15th to investors of record on October 1st.

Empyrean Capital Partners LP bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 379,000 shares of the company's stock, valued at approximately $52,215,000. Cardinal Health accounts for approximately 1.9% of Empyrean Capital Partners LP's portfolio, making the stock its 13th largest holding. Empyrean Capital Partners LP owned approximately 0.16% of Cardinal Health at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAH. Greykasell Wealth Strategies Inc. purchased a new position in Cardinal Health in the 1st quarter worth about $26,000. Tompkins Financial Corp lifted its holdings in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after buying an additional 128 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Cardinal Health by 113.4% in the 1st 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 last quarter. Measured Risk Portfolios Inc. acquired a new stake in Cardinal Health in the 4th quarter worth approximately $47,000. Finally, NBC Securities Inc. bought a new position in Cardinal Health in the 1st quarter worth approximately $48,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cardinal Health

In related news, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the sale, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 200,000 shares of the company's stock, valued at approximately $30,008,000. This trade 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. Corporate insiders own 0.09% of the company's stock.

Cardinal Health Trading Up 0.1%

NYSE CAH traded up $0.14 during midday trading on Friday, hitting $149.48. The company had a trading volume of 1,715,434 shares, compared to its average volume of 2,643,307. Cardinal Health, Inc. has a twelve month low of $106.54 and a twelve month high of $168.44. The company has a market capitalization of $35.69 billion, a PE ratio of 23.17, a P/E/G ratio of 1.26 and a beta of 0.73. The firm has a 50-day moving average price of $155.86 and a 200-day moving average price of $146.97.

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, topping analysts' consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.Cardinal Health's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Cardinal Health's dividend payout ratio is 31.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAH shares. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Citigroup reissued a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Robert W. Baird upped their price target on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Evercore ISI cut their price target on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. Finally, Bank of America upped their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $165.93.

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.