Kovitz Investment Group Partners LLC Has $7.50 Million Position in Cardinal Health, Inc. $CAH

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Cardinal Health, Inc. by 461% in Q1, acquiring an additional 44,757 shares, bringing its total holdings to 54,465 shares valued at $7.5 million.
• Analysts have set varied target prices for Cardinal Health, with Wells Fargo raising its target to $185.00, while Jefferies set a target of $150.00, indicating a consensus average target of $163.20.
• Cardinal Health plans to pay a quarterly dividend of $0.5107 per share on October 15th, yielding an annualized rate of 1.4% based on a payout ratio of 31.63%.

Kovitz Investment Group Partners LLC increased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 461.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,465 shares of the company's stock after acquiring an additional 44,757 shares during the period. Kovitz Investment Group Partners LLC's holdings in Cardinal Health were worth $7,504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after buying an additional 1,193,983 shares in the last quarter. Northern Trust Corp increased its position in shares of Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock valued at $359,286,000 after purchasing an additional 422,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cardinal Health by 4.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock valued at $274,599,000 after buying an additional 94,768 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cardinal Health by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,601,322 shares of the company's stock worth $189,390,000 after acquiring an additional 55,781 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $141,963,000. Institutional investors own 87.17% of the company's stock.

Insider Activity

In other Cardinal Health news, insider Michelle D. Greene sold 13,500 shares of the company'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 $2,009,070.00. Following the completion of the sale, the insider directly owned 14,976 shares in the company, valued at $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 26,085 shares in the company, valued at $3,881,969.70. This trade represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,775 shares of company stock worth $35,102,939. Insiders own 0.09% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $0.2050 during trading hours on Thursday, hitting $152.7450. The stock had a trading volume of 651,386 shares, compared to its average volume of 2,406,026. The company has a market capitalization of $36.47 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.26 and a beta of 0.67. The firm's 50-day moving average price is $159.46 and its two-hundred day moving average price is $144.99. Cardinal Health, Inc. has a 52 week low of $106.54 and a 52 week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the prior year, the business posted $1.84 EPS. Cardinal Health's quarterly revenue 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, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared 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. 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 (DPR) is currently 31.63%.

Analysts Set New Price Targets

CAH has been the topic of several recent research reports. Leerink Partners decreased their price target on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research report on Tuesday, August 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 target price (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Citigroup reissued a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, Bank of America raised their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $163.20.

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.