Flputnam Investment Management Co. lessened its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 58.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,664 shares of the company's stock after selling 104,922 shares during the period. Flputnam Investment Management Co.'s holdings in Cardinal Health were worth $10,424,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. MAI Capital Management raised its position in Cardinal Health by 1.7% in the first quarter. MAI Capital Management now owns 6,898 shares of the company's stock worth $950,000 after acquiring an additional 114 shares during the period. Quarry LP increased its stake in shares of Cardinal Health by 832.8% in the 1st quarter. Quarry LP now owns 4,403 shares of the company's stock worth $607,000 after purchasing an additional 3,931 shares in the last quarter. Nomura Holdings Inc. raised its holdings in Cardinal Health by 30.5% in the 1st quarter. Nomura Holdings Inc. now owns 12,768 shares of the company's stock worth $1,759,000 after purchasing an additional 2,985 shares during the period. DRW Securities LLC purchased a new position in Cardinal Health during the first quarter valued at $279,000. Finally, Panagora Asset Management Inc. grew its holdings in Cardinal Health by 85.1% during the first quarter. Panagora Asset Management Inc. now owns 13,069 shares of the company's stock valued at $1,801,000 after purchasing an additional 6,008 shares during the period. 87.17% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on CAH shares. Argus set a $189.00 price objective on Cardinal Health in a research note on Friday, August 22nd. UBS Group restated a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of 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 from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, Robert W. Baird raised their price objective on shares of Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $165.93.
Check Out Our Latest Research Report on CAH
Cardinal Health Trading Up 0.1%
Shares of NYSE:CAH traded up $0.14 during midday trading on Friday, reaching $149.48. 1,715,434 shares of the company were exchanged, compared to its average volume of 2,643,307. The business's fifty day moving average is $155.86 and its two-hundred day moving average is $146.83. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44. The stock has a market cap of $35.69 billion, a PE ratio of 23.17, a price-to-earnings-growth 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 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 during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. Cardinal Health's revenue for the quarter 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, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.
Cardinal Health Dividend Announcement
The business also recently announced 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Cardinal Health's dividend payout ratio is currently 31.63%.
Insider Activity
In related news, insider Ola M. Snow sold 28,151 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider owned 15,431 shares in the company, valued at approximately $2,298,293.14. This represents a 64.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen M. Mason sold 41,575 shares of the company's 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 transaction, the chief executive officer owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. This represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock valued at $40,489,525 in the last quarter. Company insiders own 0.09% of the company's stock.
About Cardinal Health
(
Free Report)
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.
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