Cardinal Health, Inc. $CAH Position Boosted by Stance Capital LLC

Key Points

• Stance Capital LLC significantly increased its stake in Cardinal Health, Inc., acquiring an additional 35,220 shares, bringing its total to 35,224 shares, which represent 3.5% of its investment portfolio.
• Cardinal Health recently declared a quarterly dividend of $0.5107 per share, which will be paid on October 15, 2023, contributing to an annualized dividend yield of 1.4%.
• The company's quarterly earnings report indicated a net margin of 0.70% and earnings per share (EPS) of $2.08, slightly above analysts’ expectations of $2.03.

Stance Capital LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 880,500.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,224 shares of the company's stock after acquiring an additional 35,220 shares during the quarter. Cardinal Health makes up approximately 3.5% of Stance Capital LLC's holdings, making the stock its 5th largest holding. Stance Capital LLC's holdings in Cardinal Health were worth $4,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAH. Principal Financial Group Inc. lifted its holdings in Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after buying an additional 15,956 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position 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 acquiring an additional 457 shares during the last quarter. Assenagon Asset Management S.A. raised its position 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 acquiring an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Cardinal Health by 569.5% in 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. bought a new stake in shares of Cardinal Health in the 1st quarter valued at $83,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 38,078 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 transaction of $5,666,767.96. Following the sale, the insider owned 48,457 shares of the company's stock, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 14,976 shares in the company, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of research analyst reports. Leerink Partners reduced their target price on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Citigroup reaffirmed a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. 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 research note on Wednesday, August 13th. Finally, UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.93.

Cardinal Health Trading Down 1.0%

CAH stock traded down $1.47 during mid-day trading on Wednesday, hitting $149.47. 1,962,439 shares of the company were exchanged, compared to its average volume of 2,410,010. The business has a 50 day simple moving average of $155.25 and a 200-day simple moving average of $147.29. The stock has a market capitalization of $35.69 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $60.91 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business's revenue was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's payout ratio is currently 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.