Everstar Asset Management LLC Acquires New Stake in Cardinal Health, Inc. $CAH

Key Points

• Everstar Asset Management LLC has acquired a new position in Cardinal Health, purchasing 3,730 shares valued at approximately $514,000 during the first quarter.
• Cardinal Health's quarterly earnings exceeded expectations with $2.08 earnings per share, against a consensus estimate of $2.03, while the company reported a revenue of $60.16 billion for the quarter.
• The company has announced a quarterly dividend of $0.5107 per share, representing an annualized equivalent of $2.04, with a yield of 1.4%.

Everstar Asset Management LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,730 shares of the company's stock, valued at approximately $514,000.

Other large investors have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. purchased a new position in shares of Cardinal Health in the 1st quarter worth $26,000. Tompkins Financial Corp raised its position in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares during the period. GW&K Investment Management LLC raised its position in shares of 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 buying an additional 144 shares during the period. NBC Securities Inc. purchased a new position in shares of Cardinal Health in the 1st quarter worth $48,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Cardinal Health in the 1st quarter worth $52,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cardinal Health

In other news, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction that occurred 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 owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Company insiders own 0.09% of the company's stock.

Cardinal Health Trading Down 0.1%

NYSE CAH traded down $0.14 during trading hours on Friday, reaching $152.34. The company's stock had a trading volume of 1,068,516 shares, compared to its average volume of 2,395,802. The business has a 50-day simple moving average of $154.75 and a 200 day simple moving average of $147.48. 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 PE ratio of 23.62, a PEG ratio of 1.26 and a beta of 0.73.

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

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is 31.63%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird increased their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price target (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a report on Tuesday, August 12th. Evercore ISI lowered their price target on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Finally, Bank of America raised their target price on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.