Shell Asset Management Co. Grows Stake in Cardinal Health, Inc. $CAH

Key Points

• Shell Asset Management Co. increased its stake in Cardinal Health, Inc. by 17.4% during the second quarter, owning 22,438 shares valued at approximately $3.77 million.
• Cardinal Health reported a quarterly EPS of $2.08, exceeding analysts' expectations, but its revenue of $60.16 billion fell short of the projected $60.91 billion.
• The company declared a quarterly dividend of $0.5107 per share, with an annualized dividend yield of 1.3%, indicating ongoing shareholder returns.

Shell Asset Management Co. raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,438 shares of the company's stock after acquiring an additional 3,327 shares during the quarter. Shell Asset Management Co.'s holdings in Cardinal Health were worth $3,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake 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 valued at $43,510,000 after buying an additional 15,956 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake 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 valued at $429,000 after buying an additional 457 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake 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 valued at $1,811,000 after buying an additional 2,694 shares in the last quarter. Golden State Wealth Management LLC lifted its stake 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 valued at $54,000 after buying an additional 336 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at approximately $83,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $156.55 on Wednesday. The company's fifty day moving average price is $152.03 and its 200-day moving average price is $150.71. The firm has a market capitalization of $37.19 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.31 and a beta of 0.71. Cardinal Health, Inc. has a one year low of $106.98 and a one year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. The firm had revenue of $60.16 billion for 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 business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.5107 dividend. 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 1.3%. Cardinal Health's dividend payout ratio is presently 31.63%.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 38,078 shares of the 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 transaction, the insider owned 48,457 shares of the company's stock, valued at approximately $7,211,370.74. This trade represents a 44.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ola M. Snow sold 28,151 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares in the company, valued at approximately $2,298,293.14. This represents a 64.59% 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. Company insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. 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 note on Tuesday, June 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Leerink Partners upped their target price on shares of Cardinal Health from $186.00 to $187.00 and gave the stock an "outperform" rating in a report on Monday. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Robert W. Baird upped their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and an average target price of $166.00.

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.

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