Rafferty Asset Management LLC Sells 5,075 Shares of Cardinal Health, Inc. $CAH

Key Points

• Rafferty Asset Management LLC reduced its stake in Cardinal Health by 18.5% by selling 5,075 shares, leaving them with 22,369 shares valued at approximately $3.08 million.
• Research analysts recently downgraded Cardinal Health’s rating from a "strong-buy" to a "buy," reflecting a shift in market sentiment, although the stock maintains an average rating of "Moderate Buy."
• Cardinal Health announced a quarterly dividend of $0.5107 per share, contributing to an annualized dividend of $2.04 and a yield of 1.4%.

Rafferty Asset Management LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,369 shares of the company's stock after selling 5,075 shares during the quarter. Rafferty Asset Management LLC's holdings in Cardinal Health were worth $3,082,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its stake in shares of Cardinal Health by 11.2% during the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after acquiring an additional 77 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in Cardinal Health by 1.4% during the first quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after purchasing an additional 85 shares during the period. CSS LLC IL lifted its holdings in Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after purchasing an additional 90 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Cardinal Health by 4.2% during the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after buying an additional 90 shares during the period. Finally, Smith Shellnut Wilson LLC ADV increased its stake in shares of Cardinal Health by 2.1% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after purchasing an additional 91 shares during the period. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CAH shares. Wells Fargo & Company reissued an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research report on Tuesday, August 12th. Leerink Partners lowered their price objective on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Argus set a $189.00 price target on Cardinal Health in a research note on Friday, August 22nd. Finally, Bank of America upped their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $165.93.

Cardinal Health Stock Performance

NYSE CAH traded down $1.31 during trading on Thursday, hitting $149.26. 587,068 shares of the company's stock traded hands, compared to its average volume of 2,408,242. The business has a 50 day moving average of $156.54 and a 200-day moving average of $146.51. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 23.10, a PEG 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 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 business had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current 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 $0.5107 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.4%. Cardinal Health's dividend payout ratio (DPR) is currently 31.63%.

Insiders Place Their Bets

In other news, insider Ola M. Snow sold 28,151 shares of the stock in a transaction dated 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 sale, the insider directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 107,705 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the completion of the transaction, the chief executive officer owned 235,901 shares of the company's stock, valued at $35,125,658.90. This trade represents a 31.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 over the last quarter. Insiders own 0.09% of the company's stock.

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.