Livforsakringsbolaget Skandia Omsesidigt Buys 17,800 Shares of Cardinal Health, Inc. $CAH

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Cardinal Health, Inc. by 20.7%, now holding $17.43 million worth of shares, making Cardinal Health its 23rd largest position.
• Insider transactions revealed significant sales by CEO Stephen M. Mason and other executives, with a total of 271,676 shares sold in the last 90 days, indicating a notable decrease in their ownership stakes.
• Cardinal Health reported a quarterly EPS of $2.08, surpassing analyst estimates, while announcing a quarterly dividend of $0.5107 per share, reflecting a 1.4% dividend yield.

Livforsakringsbolaget Skandia Omsesidigt boosted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 20.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,799 shares of the company's stock after buying an additional 17,800 shares during the quarter. Cardinal Health makes up about 0.8% of Livforsakringsbolaget Skandia Omsesidigt's holdings, making the stock its 23rd largest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cardinal Health were worth $17,432,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CAH. Wellington Management Group LLP increased its position in Cardinal Health by 1,666.7% in the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after buying an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. increased its position in Cardinal Health by 40.0% in the first 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after acquiring an additional 959,486 shares during the period. Zurich Insurance Group Ltd FI boosted its holdings in shares of Cardinal Health by 4,935.9% in the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company's stock worth $130,434,000 after acquiring an additional 927,950 shares during the period. Finally, Nuveen LLC bought a new position in shares of Cardinal Health in the first quarter worth $106,065,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 3.5%

CAH stock traded up $5.14 during midday trading on Tuesday, hitting $152.61. The company's stock had a trading volume of 1,411,404 shares, compared to its average volume of 2,385,213. The company has a market cap of $36.26 billion, a PE ratio of 23.65, a P/E/G ratio of 1.27 and a beta of 0.73. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44. The firm's 50-day moving average is $152.78 and its 200-day moving average is $148.84.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 0.70% and a negative return on equity of 74.45%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid 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 is presently 31.63%.

Insiders Place Their Bets

In other Cardinal Health news, CEO Stephen M. Mason sold 41,575 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 transaction of $6,187,191.50. Following the completion of the transaction, the chief executive officer owned 26,085 shares of the company's stock, valued at $3,881,969.70. This represents a 61.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the transaction, the chief executive officer directly owned 200,000 shares of the company's stock, valued at $30,008,000. This trade represents a 15.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock worth $40,489,525 in the last three months. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CAH shares. Evercore ISI cut their price target on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Citigroup reaffirmed a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $185.00 price target (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Robert W. Baird raised their price target on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.93.

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.