Engineers Gate Manager LP Sells 56,363 Shares of Cardinal Health, Inc. $CAH

Key Points

• Engineers Gate Manager LP reduced its Cardinal Health stake by 72.9% in the second quarter, selling 56,363 shares and retaining 20,964 shares valued at approximately $4.98 million.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates of $2.42, while revenue rose 5.8% year over year to $63.67 billion. The company issued fiscal 2027 EPS guidance of $12.40–$12.60.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $266.56. Cardinal Health also declared a quarterly dividend of $0.5158 per share, representing a 0.9% annualized yield.

Engineers Gate Manager LP lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 72.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,964 shares of the company's stock after selling 56,363 shares during the quarter. Engineers Gate Manager LP's holdings in Cardinal Health were worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in Cardinal Health by 22,881.2% in the second quarter. California State Teachers Retirement System now owns 85,193,767 shares of the company's stock worth $20,238,631,000 after buying an additional 84,823,056 shares in the last quarter. BlackRock Inc. purchased a new position in Cardinal Health during the second quarter valued at approximately $6,293,115,000. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company's stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares during the period. Norges Bank bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $790,344,000. Finally, Bank of America Corp DE purchased a new stake in shares of Cardinal Health in the second quarter worth $689,066,000. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of several recent analyst reports. Royal Bank Of Canada began coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They set an "outperform" rating and a $276.00 price objective on the stock. Zacks Research lowered Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Evercore reissued an "outperform" rating and set a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Weiss Ratings downgraded Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. Finally, Barclays increased their target price on Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $266.56.

Insider Transactions at Cardinal Health

In other news, CEO Stephen M. Mason sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the sale, the chief executive officer directly owned 18,061 shares of the company's stock, valued at $4,269,620.40. This trade represents a 65.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer owned 77,901 shares of the company's stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock worth $49,626,657 in the last quarter. Company insiders own 0.12% of the company's stock.

Cardinal Health Price Performance

Shares of CAH opened at $234.54 on Friday. The stock has a market capitalization of $54.55 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The business's 50 day simple moving average is $234.38 and its 200-day simple moving average is $219.74.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health's dividend payout ratio is currently 28.49%.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.

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