Northwest & Ethical Investments L.P. Invests $887,000 in Cardinal Health, Inc. $CAH

Key Points

• Northwest & Ethical Investments L.P. acquired 6,447 shares of Cardinal Health, valued at approximately $887,000, highlighting increased institutional interest in the company's stock.
• Insider transactions revealed that CEO Jason M. Hollar sold 107,705 shares, resulting in a 31.35% decrease in his ownership, while other insiders collectively sold 235,775 shares in recent months.
• Equities analysts gave Cardinal Health a consensus rating of "Moderate Buy" with an average target price of $163.20, signaling positive outlook among market experts.

Northwest & Ethical Investments L.P. bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 6,447 shares of the company's stock, valued at approximately $887,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after acquiring an additional 1,193,983 shares during the last quarter. Northern Trust Corp increased its position in shares of Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cardinal Health by 4.3% during 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 worth $274,599,000 after purchasing an additional 94,768 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Cardinal Health by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,601,322 shares of the company's stock worth $189,390,000 after purchasing an additional 55,781 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $141,963,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH traded down $1.2190 during midday trading on Monday, hitting $146.8810. The company had a trading volume of 284,252 shares, compared to its average volume of 2,411,490. The company's 50-day simple moving average is $159.02 and its 200-day simple moving average is $145.58. The firm has a market capitalization of $35.07 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.25 and a beta of 0.67. 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 announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.63%.

Insider Buying and Selling at Cardinal Health

In other news, insider Ola M. Snow sold 28,151 shares of the firm's stock in a transaction dated 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 sale, the insider owned 15,431 shares of the company's stock, valued at approximately $2,298,293.14. This trade represents a 64.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the sale, the insider directly owned 14,976 shares in the company, valued at $2,228,728.32. This trade represents a 47.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CAH has been the subject of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. UBS Group reissued a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Bank of America raised their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Wells Fargo & Company reissued an "overweight" rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Finally, Wall Street Zen downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $163.20.

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.