Martingale Asset Management L P Trims Stake in Cardinal Health, Inc. $CAH

Key Points

• Martingale Asset Management L P reduced its stake in Cardinal Health by 9.4%, selling 13,386 shares to own 128,300 shares valued at $17,676,000 by the end of the first quarter.
• Other institutional investors, including Wellington Management Group and JPMorgan Chase, significantly increased their holdings in Cardinal Health during the same period, highlighting strong interest in the stock.
• Cardinal Health announced a quarterly dividend of $0.5107 per share, with a dividend yield of 1.3%, set to be paid on October 15th.

Martingale Asset Management L P trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,300 shares of the company's stock after selling 13,386 shares during the period. Martingale Asset Management L P owned approximately 0.05% of Cardinal Health worth $17,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Candriam S.C.A. raised its holdings in shares of Cardinal Health by 5.0% during the first quarter. Candriam S.C.A. now owns 25,020 shares of the company's stock valued at $3,447,000 after purchasing an additional 1,193 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Cardinal Health during the first quarter valued at approximately $104,951,000. Vertex Planning Partners LLC purchased a new stake in Cardinal Health during the first quarter valued at approximately $226,000. Credit Agricole S A increased its holdings in Cardinal Health by 8.0% during the first quarter. Credit Agricole S A now owns 69,513 shares of the company's stock valued at $9,577,000 after buying an additional 5,140 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in Cardinal Health by 7.7% during the first quarter. Groupama Asset Managment now owns 12,304 shares of the company's stock valued at $1,679,000 after buying an additional 877 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total value of $5,386,586.04. Following the sale, the chief executive officer owned 200,000 shares of the company's stock, valued at approximately $30,008,000. This represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen M. Mason sold 41,575 shares of the stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAH. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Evercore ISI reduced their target price 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 research report on Tuesday, August 12th. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Leerink Partners dropped 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. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $163.20.

Cardinal Health Stock Performance

Shares of CAH traded down $3.5270 during mid-day trading on Friday, reaching $148.0430. The stock had a trading volume of 2,685,985 shares, compared to its average volume of 2,527,078. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.25 and a beta of 0.67. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44. The business has a fifty day moving average of $159.02 and a 200 day moving average of $145.45.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. Cardinal Health'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. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. 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 (DPR) is 31.63%.

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.