Royal Bank of Canada Decreases Stock Holdings in Cardinal Health, Inc. $CAH

Key Points

• Royal Bank of Canada has reduced its holdings in Cardinal Health, Inc. by 0.6%, owning 740,272 shares worth approximately $101.99 million after selling 4,327 shares in the first quarter.
• Cardinal Health has received a mix of analyst ratings, with 12 analysts rating it as a "Buy" and three as a "Hold," leading to a consensus rating of "Moderate Buy" and a price target of $165.93.
• The company announced a quarterly dividend of $0.5107 per share, reflecting an annualized dividend yield of 1.4%, set to be paid on October 15th.

Royal Bank of Canada trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 740,272 shares of the company's stock after selling 4,327 shares during the period. Royal Bank of Canada owned about 0.31% of Cardinal Health worth $101,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CAH. Wellington Management Group LLP increased its stake in shares of Cardinal Health by 1,666.7% during the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after purchasing an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after purchasing an additional 1,193,983 shares during the period. GAMMA Investing LLC raised its position in Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after acquiring an additional 959,486 shares in the last quarter. Junto Capital Management LP purchased a new stake in shares of Cardinal Health during the 4th quarter valued at about $92,811,000. Finally, Nuveen LLC bought a new stake in shares of Cardinal Health in the 1st quarter worth $106,065,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH traded up $0.15 on Monday, hitting $149.71. 1,111,546 shares of the company's stock were exchanged, compared to its average volume of 2,408,870. The firm's 50-day moving average price is $155.86 and its two-hundred day moving average price is $147.10. Cardinal Health, Inc. has a fifty-two week low of $106.54 and a fifty-two week high of $168.44. The firm has a market cap of $35.75 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 1.26 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The business's quarterly revenue 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, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Cardinal Health's dividend payout ratio (DPR) is 31.63%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the 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 transaction, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. This represents a 64.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 35,901 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total value of $5,386,586.04. Following the transaction, the chief executive officer owned 200,000 shares of the company's stock, valued at approximately $30,008,000. The trade was a 15.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock valued at $40,489,525 in the last three months. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Leerink Partners lowered their target price on Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Bank of America raised their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wells Fargo & Company reissued an "overweight" rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, UBS Group restated a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. 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, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus target price of $165.93.

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.