Oak Associates Ltd. OH Lowers Position in Cardinal Health, Inc. $CAH

Key Points

• Oak Associates Ltd. OH reduced its stake in Cardinal Health, Inc. by 10.2%, owning 24,693 shares valued at approximately $3.4 million as of the latest SEC filing.
• Cardinal Health reported earnings of $2.08 per share, beating consensus estimates, with quarterly revenue of $60.16 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.5107, with an ex-dividend date of October 1st, representing an annual yield of 1.4%.

Oak Associates Ltd. OH decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,693 shares of the company's stock after selling 2,800 shares during the quarter. Oak Associates Ltd. OH's holdings in Cardinal Health were worth $3,402,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its stake in Cardinal Health by 22.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,083 shares of the company's stock valued at $483,000 after purchasing an additional 748 shares during the last quarter. Northern Trust Corp boosted its stake in Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock valued at $359,286,000 after purchasing an additional 422,755 shares during the last quarter. Lido Advisors LLC boosted its stake in Cardinal Health by 53.3% during the 4th quarter. Lido Advisors LLC now owns 20,252 shares of the company's stock valued at $2,395,000 after purchasing an additional 7,042 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Cardinal Health by 134.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 121,935 shares of the company's stock valued at $14,421,000 after purchasing an additional 70,020 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in Cardinal Health during the 4th quarter valued at about $10,279,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Up 0.3%

Shares of Cardinal Health stock traded up $0.46 during trading on Tuesday, hitting $149.24. The stock had a trading volume of 577,253 shares, compared to its average volume of 2,418,744. The firm has a market cap of $35.64 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 1.26 and a beta of 0.73. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44. The business's 50-day moving average is $157.10 and its 200 day moving average is $146.46.

Cardinal Health (NYSE:CAH - Get Free Report) last released its 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 for 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 firm's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

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 dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend 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

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Argus set a $189.00 target price on Cardinal Health in a research note on Friday, August 22nd. Morgan Stanley restated an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $165.93.

Insider Activity

In other news, insider Jessica L. Mayer sold 38,078 shares of the 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 completion of the sale, the insider directly owned 48,457 shares in the company, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the 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 represents a 64.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,676 shares of company stock valued at $40,489,525. Company insiders own 0.09% of the company's stock.

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.