Northern Trust Corp Boosts Holdings in Cardinal Health, Inc. $CAH

Key Points

• Northern Trust Corp increased its stake in Cardinal Health, acquiring 105,154 shares and raising its ownership to approximately 3,143,003 shares, valued at $433 million.
• Cardinal Health reported a quarterly EPS of $2.08, exceeding estimates, but its revenue fell short at $60.16 billion compared to expectations of $60.91 billion.
• The company announced a quarterly dividend of $0.5107 per share, resulting in an annualized dividend yield of 1.4% for shareholders of record on October 1st.

Northern Trust Corp raised its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,143,003 shares of the company's stock after buying an additional 105,154 shares during the period. Northern Trust Corp owned about 1.32% of Cardinal Health worth $433,012,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new stake in Cardinal Health during the 1st quarter valued at $26,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health during the 4th quarter valued at $32,000. Tompkins Financial Corp boosted its position in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after buying an additional 128 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Cardinal Health during the 4th quarter valued at $36,000. Finally, GW&K Investment Management LLC boosted its position in Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Down 0.8%

Cardinal Health stock traded down $1.2190 on Monday, hitting $146.8810. 284,252 shares of the stock traded hands, compared to its average volume of 2,411,490. The firm has a market cap of $35.07 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67. The business's fifty day simple moving average is $159.02 and its 200 day simple moving average is $145.58. 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 issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. During the same period last year, the company posted $1.84 EPS. Cardinal Health's revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is 31.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore ISI dropped their price target on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a research note on Tuesday, August 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 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, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $163.20.

Insider Activity at Cardinal Health

In related news, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the completion of the transaction, the chief executive officer directly owned 235,901 shares of the company's stock, valued at $35,125,658.90. This trade represents a 31.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction dated 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 transaction, the insider directly owned 48,457 shares of the company's stock, valued at approximately $7,211,370.74. This trade represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 over the last 90 days. 0.09% of the stock is currently owned by insiders.

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.