Korea Investment CORP Sells 57,300 Shares of Cardinal Health, Inc. $CAH

Key Points

• Korea Investment CORP has reduced its stake in Cardinal Health, Inc. by 34.5%, selling 57,300 shares and holding 108,827 shares worth approximately $14.99 million.
• The company declared a quarterly dividend of $0.5107, with a yield of 1.3%, to be paid on October 15th.
• Cardinal Health's recent earnings report indicated a net margin of just 0.70%, despite exceeding EPS expectations by $0.05.

Korea Investment CORP decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 34.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,827 shares of the company's stock after selling 57,300 shares during the period. Korea Investment CORP's holdings in Cardinal Health were worth $14,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Qtron Investments LLC boosted its stake in shares of Cardinal Health by 7.8% in the 1st quarter. Qtron Investments LLC now owns 7,913 shares of the company's stock valued at $1,090,000 after purchasing an additional 572 shares in the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of Cardinal Health by 2.1% in the 1st quarter. Community Bank & Trust Waco Texas now owns 5,524 shares of the company's stock valued at $761,000 after purchasing an additional 115 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cardinal Health by 3.5% in the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock valued at $433,012,000 after purchasing an additional 105,154 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Cardinal Health by 52.1% in the 1st quarter. Brooklyn Investment Group now owns 931 shares of the company's stock valued at $128,000 after purchasing an additional 319 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its stake in shares of Cardinal Health by 3.5% in the 1st quarter. Freestone Capital Holdings LLC now owns 57,615 shares of the company's stock valued at $7,938,000 after purchasing an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Down 2.3%

NYSE CAH traded down $3.5270 during trading on Friday, hitting $148.0430. The company had a trading volume of 2,685,985 shares, compared to its average volume of 2,600,685. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44. The company has a market cap 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. The company's fifty day moving average is $159.02 and its 200-day moving average is $145.58.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate 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 business had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same period in the prior year, the business earned $1.84 EPS. The company'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, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.5107 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.4%. Cardinal Health's dividend payout ratio is 31.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAH. Citigroup reaffirmed a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Evercore ISI lowered their price target on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on shares of Cardinal Health in a report on Tuesday, August 12th. Bank of America upped their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.20.

Insiders Place Their Bets

In other Cardinal Health news, CEO Stephen M. Mason sold 41,575 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 $6,187,191.50. Following the completion of the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. This represents a 61.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 107,705 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the completion of the transaction, the chief executive officer owned 235,901 shares of the company's stock, valued at $35,125,658.90. This trade represents a 31.35% 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 worth $40,489,525. Company insiders own 0.09% of the company's stock.

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.