Cardinal Health, Inc. $CAH Stake Decreased by PDT Partners LLC

Key Points

• PDT Partners LLC reduced its holdings in Cardinal Health, Inc. by 6.3%, ending the quarter with $5.32 million in stock after selling 2,608 shares.
• CEO Jason M. Hollar and another insider sold a combined total of over $18 million worth of shares on August 19, reflecting significant decreases in their positions.
• Cardinal Health announced a $0.5107 quarterly dividend, which will be paid on October 15, resulting in a dividend yield of 1.4%.

PDT Partners LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 38,592 shares of the company's stock after selling 2,608 shares during the period. PDT Partners LLC's holdings in Cardinal Health were worth $5,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after buying an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after buying an additional 457 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after buying an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after buying an additional 336 shares during the last quarter. Finally, North Capital Inc. purchased a new stake in Cardinal Health during the 1st quarter worth $83,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.8%

NYSE:CAH traded down $1.18 on Thursday, reaching $149.38. The stock had a trading volume of 2,362,557 shares, compared to its average volume of 2,421,200. The company has a 50-day moving average of $156.54 and a 200 day moving average of $146.51. The stock has a market cap of $35.67 billion, a P/E ratio of 23.16, a price-to-earnings-growth 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.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share 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 in the prior year, the company posted $1.84 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

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

Insiders Place Their Bets

In other Cardinal Health news, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total value of $16,037,274.50. Following the completion of the transaction, the chief executive officer directly owned 235,901 shares in the company, valued at $35,125,658.90. The trade was a 31.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the transaction, the insider owned 15,431 shares of the company's stock, valued at approximately $2,298,293.14. The trade was 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. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Leerink Partners decreased their price target on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Citigroup reaffirmed a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Robert W. Baird upped their price target on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Finally, Argus set a $189.00 price target on shares of Cardinal Health in a research report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.93.

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.