Summit Securities Group LLC Decreases Stake in Cardinal Health, Inc. $CAH

Key Points

• Summit Securities Group LLC reduced its stake in Cardinal Health, Inc. by 92.1%, leaving it with only 464 shares valued at $64,000 after selling 5,436 shares in the first quarter.
• Cardinal Health reported $2.08 earnings per share for its recent quarter, surpassing the consensus estimate of $2.03, although its revenue fell short of expectations at $60.16 billion.
• The company declared a quarterly dividend of $0.5107 per share, translating to an annualized yield of 1.4%, with a payout ratio of 31.63%.

Summit Securities Group LLC reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 92.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 464 shares of the company's stock after selling 5,436 shares during the quarter. Summit Securities Group LLC's holdings in Cardinal Health were worth $64,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Freestone Capital Holdings LLC boosted its stake in shares of Cardinal Health by 3.5% during the first quarter. Freestone Capital Holdings LLC now owns 57,615 shares of the company's stock valued at $7,938,000 after purchasing an additional 1,971 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in shares of Cardinal Health during the first quarter valued at $887,000. Raymond James Financial Inc. boosted its stake in shares of Cardinal Health by 48.8% during the first quarter. Raymond James Financial Inc. now owns 567,782 shares of the company's stock valued at $78,223,000 after purchasing an additional 186,325 shares during the period. Ethic Inc. boosted its stake in shares of Cardinal Health by 3.9% during the first quarter. Ethic Inc. now owns 12,299 shares of the company's stock valued at $1,687,000 after purchasing an additional 464 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cardinal Health by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,246,788 shares of the company's stock valued at $171,749,000 after purchasing an additional 7,940 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 38,078 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider owned 48,457 shares in the company, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason M. Hollar sold 107,705 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total value of $16,037,274.50. Following the completion of the sale, the chief executive officer owned 235,901 shares in the company, valued at approximately $35,125,658.90. This represents a 31.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAH. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 12th. Robert W. Baird upped their price objective 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. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Leerink Partners lowered their price objective 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. Finally, Evercore ISI lowered their price objective 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. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.20.

Cardinal Health Price Performance

Shares of CAH stock traded down $3.5270 during mid-day trading on Friday, hitting $148.0430. 2,685,985 shares of the stock traded hands, compared to its average volume of 2,527,078. The stock has a market cap of $35.35 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.28 and a beta of 0.67. The stock's fifty day moving average is $159.02 and its two-hundred day moving average is $145.33. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating the consensus estimate 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 business had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. The company's quarterly revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Cardinal Health 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.