Northwestern Mutual Wealth Management Co. Lowers Stake in Cardinal Health, Inc. $CAH

Key Points

• Northwestern Mutual Wealth Management cut its Cardinal Health stake by 67.4% in the second quarter, selling 37,803 shares and retaining 18,301 shares valued at approximately $4.35 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates of $2.42, while revenue rose 5.8% year over year to $63.67 billion but fell short of expectations. The company set fiscal 2027 EPS guidance at $12.40–$12.60.
• Insiders sold 210,271 shares worth about $49.6 million over the past 90 days. Despite the selling, analysts maintain a “Moderate Buy” consensus rating with an average price target of $266.56, above the stock’s reported $248.88 price.

Northwestern Mutual Wealth Management Co. decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 67.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,301 shares of the company's stock after selling 37,803 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Cardinal Health were worth $4,348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. LWM Advisors Inc. lifted its stake in shares of Cardinal Health by 4.4% during the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock worth $244,000 after purchasing an additional 43 shares during the period. Kathmere Capital Management LLC grew its position in shares of Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after purchasing an additional 49 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of Cardinal Health by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock valued at $1,184,000 after purchasing an additional 50 shares during the period. V Square Quantitative Management LLC increased its stake in Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock valued at $423,000 after purchasing an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR increased its stake in Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company's stock valued at $105,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Buying and Selling

In other news, CAO Mary C. Scherer sold 2,302 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the transaction, the chief accounting officer owned 2,811 shares of the company's stock, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle Greene sold 11,650 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider owned 10,330 shares in the company, valued at $2,434,987.60. The trade was a 53.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Price Performance

Cardinal Health stock opened at $248.88 on Friday. The stock's 50-day moving average is $234.06 and its 200-day moving average is $218.99. The company has a market cap of $57.88 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 1.48 and a beta of 0.51. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion during the quarter, compared to analysts' expectations of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. Cardinal Health's dividend payout ratio is presently 28.49%.

Wall Street Analyst Weigh In

Several analysts have commented on CAH shares. Weiss Ratings cut Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Barclays increased their price objective on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. Bank of America upped their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, Zacks Research downgraded shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $266.56.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source