Gradient Investments LLC Decreases Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Gradient Investments LLC decreased its stake in Cardinal Health, Inc. by 5% during the second quarter, selling 5,512 shares, leaving them with a total of 105,601 shares worth $17.74 million.
• CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock, resulting in a 61.45% reduction of his ownership, while insiders collectively sold 271,676 shares over the last ninety days.
• Cardinal Health recently reported a quarterly EPS of $2.08, surpassing estimates, and has announced a quarterly dividend of $0.5107, payable on October 15th.

Gradient Investments LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,601 shares of the company's stock after selling 5,512 shares during the period. Gradient Investments LLC's holdings in Cardinal Health were worth $17,741,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAH. Parallel Advisors LLC increased its stake in shares of Cardinal Health by 8.8% in the second quarter. Parallel Advisors LLC now owns 2,732 shares of the company's stock worth $459,000 after buying an additional 221 shares during the last quarter. Wesbanco Bank Inc. raised its position in shares of Cardinal Health by 229.4% during the 2nd quarter. Wesbanco Bank Inc. now owns 9,577 shares of the company's stock worth $1,609,000 after buying an additional 6,670 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Cardinal Health by 7.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,074 shares of the company's stock worth $181,000 after acquiring an additional 79 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Cardinal Health by 25.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 751 shares of the company's stock worth $126,000 after purchasing an additional 150 shares in the last quarter. Finally, First National Bank Sioux Falls acquired a new position in Cardinal Health in the 2nd quarter worth approximately $228,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 1.2%

NYSE:CAH traded down $1.83 on Tuesday, hitting $148.44. The stock had a trading volume of 2,852,685 shares, compared to its average volume of 2,064,407. The company has a market cap of $35.45 billion, a PE ratio of 23.01, a P/E/G ratio of 1.27 and a beta of 0.73. Cardinal Health, Inc. has a 52 week low of $106.54 and a 52 week high of $168.44. The business's fifty day moving average is $153.84 and its 200 day moving average is $148.08.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS 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 period last year, the company posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 (DPR) is presently 31.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Leerink Partners cut their target price on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Citigroup reiterated 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. Evercore ISI reduced their target price on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a report on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $165.93.

Insider Transactions at Cardinal Health

In related news, CEO Stephen M. Mason sold 41,575 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the company's stock in a transaction 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 owned 48,457 shares of the company's stock, 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 sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is owned by corporate insiders.

Cardinal Health Profile

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.