HighTower Advisors LLC Reduces Stock Position in Cardinal Health, Inc. $CAH

HighTower Advisors LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,078 shares of the company's stock after selling 9,022 shares during the quarter. HighTower Advisors LLC's holdings in Cardinal Health were worth $10,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after purchasing an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after purchasing an additional 457 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after purchasing an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. Finally, North Capital Inc. purchased a new stake in Cardinal Health during the 1st quarter valued at about $83,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 38,078 shares of the 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 $5,666,767.96. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 107,705 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total value of $16,037,274.50. Following the transaction, the chief executive officer directly owned 235,901 shares of the company's stock, valued at $35,125,658.90. The trade was a 31.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,775 shares of company stock valued at $35,102,939. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a report on Tuesday, August 12th. Bank of America boosted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. UBS Group reissued a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average target price of $163.20.

Cardinal Health Price Performance

NYSE CAH traded down $0.3520 during trading hours on Thursday, reaching $152.5980. The company's stock had a trading volume of 1,260,800 shares, compared to its average volume of 2,410,001. The firm has a market capitalization of $36.44 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 1.26 and a beta of 0.67. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44. The company's 50-day moving average is $159.46 and its two-hundred day moving average is $144.99.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly 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. The company had revenue of $60.16 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

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.