Meiji Yasuda Asset Management Co Ltd. Cuts Stock Holdings in Cardinal Health, Inc. $CAH

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its stake in Cardinal Health by 34.9%, now holding 42,820 shares worth approximately $5.9 million.
• Insider Jessica L. Mayer and CEO Stephen M. Mason sold a significant number of shares, reducing their positions by 44% and 61.45% respectively.
• Cardinal Health recently announced a quarterly dividend of $0.5107 per share, with a payout ratio of 31.63% and a yield of 1.4%.

Meiji Yasuda Asset Management Co Ltd. lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 34.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,820 shares of the company's stock after selling 22,987 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Cardinal Health were worth $5,899,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Great Lakes Advisors LLC lifted its position in shares of Cardinal Health by 3.1% in the 1st quarter. Great Lakes Advisors LLC now owns 3,538 shares of the company's stock worth $487,000 after purchasing an additional 108 shares during the period. Everstar Asset Management LLC acquired a new position in shares of Cardinal Health in the 1st quarter worth approximately $514,000. Fred Alger Management LLC lifted its position in shares of Cardinal Health by 471.7% in the 1st quarter. Fred Alger Management LLC now owns 267,231 shares of the company's stock worth $36,816,000 after purchasing an additional 220,488 shares during the period. Kestra Investment Management LLC lifted its position in shares of Cardinal Health by 37.3% in the 1st quarter. Kestra Investment Management LLC now owns 4,482 shares of the company's stock worth $617,000 after purchasing an additional 1,218 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after purchasing an additional 14,034 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Down 0.1%

CAH stock traded down $0.14 during midday trading on Friday, reaching $152.34. 1,162,569 shares of the company's stock traded hands, compared to its average volume of 2,399,280. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.26 and a beta of 0.73. The firm's fifty day moving average price is $154.75 and its 200-day moving average price is $147.48. 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, 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%. Cardinal Health's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts forecast 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 dividend of $0.5107 per share. 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 payout ratio is 31.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Argus set a $189.00 price objective on shares of Cardinal Health in a research note on Friday, August 22nd. Robert W. Baird lifted their price objective on shares of Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.93.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Stephen M. Mason sold 41,575 shares of the business's 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 owned 26,085 shares in the company, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the sale, the insider owned 48,457 shares of the company's stock, valued at $7,211,370.74. This trade represents a 44.00% 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 ninety days. 0.09% of the stock is currently owned by corporate insiders.

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.