Sumitomo Mitsui DS Asset Management Company Ltd Acquires 3,412 Shares of Cardinal Health, Inc. $CAH

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Cardinal Health by 12.0%, now holding 31,895 shares worth approximately $5.36 million.
• Cardinal Health reported earnings per share (EPS) of $2.08 for the last quarter, surpassing expectations of $2.03, with revenues slightly up by 0.5% year-over-year.
• The company has announced a quarterly dividend of $0.5107 to be paid on October 15th, representing an annual yield of 1.4%.

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 31,895 shares of the company's stock after purchasing an additional 3,412 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cardinal Health were worth $5,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in shares of Cardinal Health by 23.9% in the 4th quarter. Tidal Investments LLC now owns 20,105 shares of the company's stock worth $2,369,000 after acquiring an additional 3,882 shares during the period. Vident Advisory LLC raised its holdings in shares of Cardinal Health by 3.6% during the fourth quarter. Vident Advisory LLC now owns 7,101 shares of the company's stock valued at $840,000 after acquiring an additional 247 shares during the period. Waverly Advisors LLC raised its holdings in shares of Cardinal Health by 8.5% during the fourth quarter. Waverly Advisors LLC now owns 3,098 shares of the company's stock valued at $366,000 after acquiring an additional 243 shares during the period. PharVision Advisers LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth $237,000. Finally, Focus Partners Advisor Solutions LLC increased its stake in shares of Cardinal Health by 1.4% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 6,650 shares of the company's stock worth $786,000 after acquiring an additional 95 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cardinal Health

In related news, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares of the company's stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 107,705 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer owned 235,901 shares of the company's stock, valued at $35,125,658.90. The trade was a 31.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock valued at $40,489,525 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent research reports. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a report on Tuesday, August 12th. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. 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 report on Tuesday, June 10th. Leerink Partners decreased their price target on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, Evercore ISI reduced their target price on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Stock Performance

CAH traded down $0.48 on Friday, reaching $149.56. The company had a trading volume of 3,661,933 shares, compared to its average volume of 1,969,846. Cardinal Health, Inc. has a fifty-two week low of $106.54 and a fifty-two week high of $168.44. The stock has a market cap of $35.53 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.27 and a beta of 0.73. The company's fifty day moving average is $153.06 and its 200 day moving average is $148.54.

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. 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 was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Cardinal Health's dividend payout ratio (DPR) is presently 31.63%.

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.