Gitterman Wealth Management LLC Purchases New Stake in Cardinal Health, Inc. $CAH

Key Points

• Gitterman Wealth Management LLC acquired a new stake in Cardinal Health, purchasing 2,974 shares valued at approximately $410,000 in the first quarter.
• Several hedge funds have increased their holdings in Cardinal Health, with 87.17% of the stock owned by institutional investors and hedge funds.
• Cardinal Health announced a quarterly dividend of $0.5107, resulting in an annualized dividend yield of 1.3% for stockholders of record as of October 1st.

Gitterman Wealth Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,974 shares of the company's stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 1,666.7% in the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock valued at $328,470,000 after purchasing an additional 2,249,241 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at $141,963,000. JPMorgan Chase & Co. grew its stake in shares of Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after buying an additional 1,193,983 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after buying an additional 959,486 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in shares of Cardinal Health in the fourth quarter valued at $92,811,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CAH shares. Robert W. Baird raised their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. UBS Group reissued a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Citigroup reissued a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research note on Tuesday, August 12th. Twelve research 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 an average target price of $163.20.

Insider Buying and Selling

In other news, CEO Jason M. Hollar sold 35,901 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 200,000 shares of the company's stock, valued at approximately $30,008,000. The trade was a 15.22% 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, insider Jessica L. Mayer sold 38,078 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the sale, the insider directly owned 48,457 shares of the company's stock, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock valued at $40,489,525 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Cardinal Health Price Performance

CAH stock traded down $3.5270 during midday trading on Friday, reaching $148.0430. 2,685,985 shares of the company were exchanged, compared to its average volume of 2,600,685. The business has a 50-day moving average price of $159.02 and a two-hundred day moving average price of $145.58. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 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 during the quarter, compared to analysts' expectations of $60.91 billion. During the same period in the previous year, the business posted $1.84 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

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.