MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 3,249 Shares of Cardinal Health, Inc. $CAH

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Cardinal Health, Inc. by 5.0%, holding $8.43 million worth of shares after selling 3,249 shares in the first quarter.
• Cardinal Health reported EPS of $2.08 for the most recent quarter, which beat analysts' estimates, but revenue fell short of expectations at $60.16 billion.
• The company announced a quarterly dividend of $0.5107 per share, with an annualized dividend yield of 1.4%, set to be paid on October 15th.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,218 shares of the company's stock after selling 3,249 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Cardinal Health were worth $8,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Cardinal Health by 1,666.7% in the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock valued at $328,470,000 after buying an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after purchasing an additional 1,193,983 shares during the last quarter. GAMMA Investing LLC boosted its position in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after purchasing an additional 959,486 shares during the last quarter. Nuveen LLC acquired a new position in Cardinal Health during the first quarter valued at approximately $106,065,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of Cardinal Health during the first quarter worth approximately $104,951,000. Institutional investors own 87.17% of the company's stock.

Insider Activity

In other Cardinal Health news, CEO Jason M. Hollar sold 35,901 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the sale, the chief executive officer owned 200,000 shares in the company, valued at $30,008,000. This trade represents a 15.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the sale, the insider owned 48,457 shares of the company's stock, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CAH. Wells Fargo & Company restated an "overweight" rating and set a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Citigroup reissued a "neutral" rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Argus set a $189.00 price objective on Cardinal Health in a report on Friday, August 22nd. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Robert W. Baird lifted their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Trading Down 0.1%

Cardinal Health stock traded down $0.14 during midday trading on Friday, reaching $152.34. The stock had a trading volume of 1,162,569 shares, compared to its average volume of 2,177,648. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44. The company has a market capitalization of $36.38 billion, a P/E ratio of 23.62, a PEG ratio of 1.29 and a beta of 0.73. The company has a fifty day moving average price of $154.50 and a two-hundred day moving average price of $147.65.

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 analysts' consensus estimates of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced 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 dividend yield of 1.3%. Cardinal Health's dividend payout ratio is currently 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.