Smith Group Asset Management LLC Decreases Position in Cardinal Health, Inc. $CAH

Key Points

• Smith Group Asset Management LLC reduced its stake in Cardinal Health, Inc. by 61.4% during the second quarter, now holding 2,705 shares valued at approximately $454,000.
• Several institutional investors increased their holdings in Cardinal Health, with JPMorgan Chase & Co. lifting its stake by 40% and Wellington Management Group increasing theirs by a significant 1,666.7%.
• Cardinal Health reported earnings of $2.08 per share, slightly beating estimates, while its stock currently holds a consensus price target of $166.00 following recent analyst upgrades.

Smith Group Asset Management LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 61.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,705 shares of the company's stock after selling 4,295 shares during the period. Smith Group Asset Management LLC's holdings in Cardinal Health were worth $454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after acquiring an additional 1,193,983 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Cardinal Health by 3.5% in the first quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock worth $433,012,000 after acquiring an additional 105,154 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Cardinal Health by 1,666.7% in the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after acquiring an additional 2,249,241 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Cardinal Health by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company's stock worth $227,877,000 after acquiring an additional 52,714 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cardinal Health by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,246,788 shares of the company's stock worth $171,749,000 after acquiring an additional 7,940 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAH shares. Leerink Partners boosted their price objective on Cardinal Health from $186.00 to $187.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. UBS Group reissued a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Argus set a $189.00 target price on Cardinal Health in a research report on Friday, August 22nd. Wells Fargo & Company reiterated an "overweight" rating and set a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Finally, Robert W. Baird lifted their price target on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $166.00.

Cardinal Health Stock Down 0.2%

Shares of NYSE:CAH opened at $159.21 on Friday. The business has a 50 day moving average price of $152.51 and a 200 day moving average price of $152.43. Cardinal Health, Inc. has a twelve month low of $106.98 and a twelve month high of $168.44. The company has a market cap of $37.83 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.35 and a beta of 0.71.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts anticipate 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 was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a $0.5107 dividend. The ex-dividend date of this dividend was 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%.

Insiders Place Their Bets

In other news, CEO Stephen M. Mason sold 41,575 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were 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 in the company, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason M. Hollar sold 107,705 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 in the last 90 days. 0.12% of the stock is owned by corporate insiders.

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.

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