Nordea Investment Management AB Cuts Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Nordea Investment Management AB has significantly reduced its stake in Cardinal Health by 57.4%, now holding 23,467 shares valued at approximately $3.93 million.
• Several other institutional investors, including Principal Financial Group Inc. and Golden State Wealth Management LLC, have increased their holdings, indicating mixed momentum among hedge funds.
• Cardinal Health recently declared a quarterly dividend of $0.5107 per share, with a current yield of 1.3% aimed to attract investors despite turbulent market conditions.

Nordea Investment Management AB reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 57.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,467 shares of the company's stock after selling 31,667 shares during the quarter. Nordea Investment Management AB's holdings in Cardinal Health were worth $3,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Cardinal Health by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after purchasing an additional 15,956 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after purchasing an additional 336 shares in the last quarter. North Capital Inc. purchased a new position in shares of Cardinal Health in the 1st quarter worth about $83,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Cardinal Health by 4.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company's stock worth $19,185,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Czech National Bank boosted its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Czech National Bank now owns 58,341 shares of the company's stock worth $9,801,000 after purchasing an additional 2,857 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider owned 15,431 shares of the company's stock, valued at $2,298,293.14. This represents a 64.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $7,211,370.74. The trade was 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 over the last three months. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. Evercore ISI cut their price objective on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. UBS Group reissued a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Cardinal Health in a research note on Wednesday, October 8th. Finally, Robert W. Baird increased their price objective on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.00.

Cardinal Health Price Performance

CAH opened at $158.42 on Wednesday. The business has a 50 day simple moving average of $152.10 and a two-hundred day simple moving average of $152.15. The firm has a market capitalization of $37.64 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.33 and a beta of 0.71. Cardinal Health, Inc. has a one year low of $106.98 and a one year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 negative return on equity of 74.45% and a net margin of 0.70%.Cardinal Health's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.5107 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. Cardinal Health's dividend payout ratio is presently 31.63%.

About Cardinal Health

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.

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