Highland Capital Management LLC Buys Shares of 9,419 Cardinal Health, Inc. $CAH

Key Points

• Highland Capital Management LLC has acquired a new stake in Cardinal Health, purchasing 9,419 shares valued at approximately $1.58 million in the second quarter.
• Cardinal Health's recent quarterly earnings exceeded expectations, reporting $2.08 EPS against a forecast of $2.03, with revenues reaching $60.16 billion.
• The company has announced a quarterly dividend of $0.5107 per share, representing an annualized yield of 1.3%, payable on October 15th.

Highland Capital Management LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,419 shares of the company's stock, valued at approximately $1,582,000.

Several other hedge funds also recently made changes to their positions in the stock. Carolina Wealth Advisors LLC boosted its stake in Cardinal Health by 18.0% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 8,849 shares of the company's stock worth $1,487,000 after purchasing an additional 1,350 shares during the period. Willner & Heller LLC purchased a new stake in shares of Cardinal Health in the second quarter worth about $219,000. AMF Tjanstepension AB purchased a new stake in shares of Cardinal Health in the second quarter worth about $26,406,000. LGT Fund Management Co Ltd. increased its holdings in Cardinal Health by 26.9% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 27,100 shares of the company's stock worth $4,553,000 after acquiring an additional 5,747 shares during the period. Finally, Hennessy Advisors Inc. increased its holdings in Cardinal Health by 331.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 92,400 shares of the company's stock worth $15,523,000 after acquiring an additional 71,000 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider owned 15,431 shares in the company, valued at approximately $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the stock in a transaction dated 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 $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,676 shares of company stock valued at $40,489,525. Company insiders own 0.12% of the company's stock.

Cardinal Health Trading Down 2.5%

Shares of Cardinal Health stock opened at $154.50 on Monday. The firm has a market capitalization of $36.71 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71. The business's 50-day moving average price is $152.07 and its 200-day moving average price is $150.50. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44.

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 the consensus estimate of $2.03 by $0.05. The business had revenue of $60.16 billion during 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 revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, 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 given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.63%.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent analyst reports. Leerink Partners reduced their price target 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. Evercore ISI dropped their price objective on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Citigroup restated a "neutral" rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Twelve equities 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.