Simplicity Wealth LLC Buys Shares of 2,530 Cardinal Health, Inc. $CAH

Key Points

• Simplicity Wealth LLC acquired a new stake in Cardinal Health, purchasing 2,530 shares valued at approximately $425,000 during the second quarter.
• Insider transactions revealed significant sales, with Michelle D. Greene selling 13,500 shares and Stephen M. Mason selling 41,575 shares, indicating a 47.41% and a 61.45% decrease in their respective holdings.
• Cardinal Health reported earnings of $2.08 per share for the recent quarter, surpassing analyst expectations, and announced a quarterly dividend of $0.5107 per share with a dividend yield of 1.3%.

Simplicity Wealth LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,530 shares of the company's stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cardinal Health during the first quarter worth about $26,000. Jones Financial Companies Lllp grew its holdings in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after acquiring an additional 144 shares during the period. NBC Securities Inc. acquired a new position in shares of Cardinal Health in the first quarter worth approximately $48,000. Finally, Garde Capital Inc. acquired a new position in shares of Cardinal Health in the first quarter worth approximately $52,000. 87.17% of the stock is currently owned by institutional investors.

Insider Activity at Cardinal Health

In other news, insider Michelle D. Greene sold 13,500 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the transaction, the insider directly owned 14,976 shares of the company's stock, valued at $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen M. Mason sold 41,575 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares of the company's stock, valued at $3,881,969.70. This trade represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 over the last three months. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAH. Leerink Partners lifted their price objective on Cardinal Health from $186.00 to $187.00 and gave the stock an "outperform" rating in a research note on Monday. Argus set a $189.00 price objective on Cardinal Health in a research note on Friday, August 22nd. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a research note on Tuesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $166.00.

Cardinal Health Stock Up 0.7%

Shares of NYSE:CAH opened at $157.77 on Thursday. Cardinal Health, Inc. has a twelve month low of $106.98 and a twelve month high of $168.44. The stock's 50 day moving average is $152.03 and its 200-day moving average is $150.75. The firm has a market capitalization of $37.48 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.32 and a beta of 0.71.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. Cardinal Health'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. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's dividend payout ratio is presently 31.63%.

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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