Panagora Asset Management Inc. Acquires 6,008 Shares of Cardinal Health, Inc. $CAH

Key Points

• Panagora Asset Management Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 85.1%, acquiring a total of 13,069 shares valued at approximately $1.8 million.
• The company's CEO, Stephen M. Mason, sold 41,575 shares in a transaction valued at over $6.1 million, reducing his ownership by 61.45%.
• Cardinal Health recently declared a quarterly dividend of $0.5107 per share, with a dividend yield of 1.4% and an upcoming payout on October 15th.

Panagora Asset Management Inc. increased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 85.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,069 shares of the company's stock after acquiring an additional 6,008 shares during the period. Panagora Asset Management Inc.'s holdings in Cardinal Health were worth $1,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vident Advisory LLC boosted its holdings in shares of Cardinal Health by 411.1% in the first quarter. Vident Advisory LLC now owns 36,295 shares of the company's stock valued at $5,000,000 after acquiring an additional 29,194 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Cardinal Health by 34.8% in the first quarter. Canada Pension Plan Investment Board now owns 290,082 shares of the company's stock valued at $39,965,000 after acquiring an additional 74,950 shares in the last quarter. Iron Triangle Partners LP boosted its holdings in shares of Cardinal Health by 61.3% in the first quarter. Iron Triangle Partners LP now owns 300,000 shares of the company's stock valued at $41,331,000 after acquiring an additional 113,998 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Cardinal Health in the first quarter valued at approximately $63,000. Finally, Trexquant Investment LP boosted its holdings in Cardinal Health by 1.7% during the first quarter. Trexquant Investment LP now owns 41,071 shares of the company's stock worth $5,658,000 after buying an additional 703 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAH. Citigroup restated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Bank of America raised their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Morgan Stanley restated an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Argus set a $189.00 target price on shares of Cardinal Health in a report on Friday, August 22nd. Finally, UBS Group restated a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Price Performance

Cardinal Health stock traded down $0.40 during midday trading on Monday, reaching $149.16. The stock had a trading volume of 313,006 shares, compared to its average volume of 2,404,455. Cardinal Health, Inc. has a twelve month low of $106.54 and a twelve month high of $168.44. The firm has a market cap of $35.62 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.26 and a beta of 0.73. The firm's fifty day simple moving average is $155.86 and its two-hundred day simple moving average is $147.10.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its 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. The company had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company's revenue for the quarter was up .5% on a year-over-year basis. 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. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the sale, the insider owned 14,976 shares of the company's stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their position. The sale was disclosed in a 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 on 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 sale, the insider directly owned 48,457 shares of the company's stock, valued at $7,211,370.74. This trade represents a 44.00% decrease in their position. The disclosure for this sale can be found here. Over 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 company insiders.

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.