Cardinal Health, Inc. $CAH Stake Boosted by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC has increased its position in Cardinal Health, Inc. by 29.0%, owning a total of 16,037 shares worth approximately $2.21 million after acquiring additional shares.
• Cardinal Health's stock has seen a 2.1% increase recently, with shares trading at $152.47. The company has a market cap of $36.41 billion and reported quarterly earnings of $2.08 per share, exceeding estimates.
• The firm declared a quarterly dividend of $0.5107 per share, with a 1.3% dividend yield, payable on October 15th to investors who hold shares as of October 1st.

NewEdge Advisors LLC raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 29.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,037 shares of the company's stock after acquiring an additional 3,608 shares during the quarter. NewEdge Advisors LLC's holdings in Cardinal Health were worth $2,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 1,193,983 shares in the last quarter. Northern Trust Corp lifted its holdings in Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock worth $433,012,000 after buying an additional 105,154 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 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 worth $328,470,000 after acquiring an additional 2,249,241 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cardinal Health by 4.3% in the 4th 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 acquiring an additional 94,768 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Cardinal Health by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company's stock valued at $227,877,000 after acquiring an additional 52,714 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded down $1.07 during midday trading on Tuesday, reaching $149.20. The company had a trading volume of 1,071,053 shares, compared to its average volume of 2,384,823. The company has a fifty day simple moving average of $154.16 and a two-hundred day simple moving average of $148.08. The firm has a market cap of $35.63 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is 31.63%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of research reports. Bank of America lifted their price objective 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. Argus set a $189.00 price target on shares of Cardinal Health in a research report on Friday, August 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. UBS Group reissued a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Citigroup reaffirmed a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $165.93.

Insider Buying and Selling

In other news, CEO Stephen M. Mason sold 41,575 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was 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 owned 26,085 shares of the company's stock, valued at $3,881,969.70. This trade represents a 61.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 38,078 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider directly owned 48,457 shares in the company, valued at $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 three months, 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.

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.