Swedbank AB Acquires 9,429 Shares of Cardinal Health, Inc. $CAH

Key Points

• Swedbank AB increased its stake in Cardinal Health, Inc. by 2.2% during the first quarter, acquiring an additional 9,429 shares to hold 441,396 shares worth approximately $60.81 million.
• In addition to Swedbank, other hedge funds have also significantly boosted their holdings in Cardinal Health, with Wellington Management increasing their position by 1,666.7% and GAMMA Investing up by 17,589.1% in the same period.
• Cardinal Health recently declared a quarterly dividend of $0.5107, representing an annualized yield of 1.3%, with a payout ratio of 31.63%.

Swedbank AB raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441,396 shares of the company's stock after acquiring an additional 9,429 shares during the quarter. Swedbank AB owned approximately 0.18% of Cardinal Health worth $60,811,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CAH. Pinnacle Bancorp Inc. increased its holdings in Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after buying an additional 77 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Cardinal Health by 1.4% in the 1st quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock valued at $833,000 after acquiring an additional 85 shares during the last quarter. CSS LLC IL raised its position in shares of Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after acquiring an additional 90 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Cardinal Health by 4.2% during the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock valued at $309,000 after acquiring an additional 90 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in Cardinal Health by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 3,455 shares of the company's stock worth $476,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 38,078 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the sale, the insider directly owned 48,457 shares of the company's stock, valued at $7,211,370.74. This trade represents a 44.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the transaction, the insider owned 15,431 shares in the company, valued at $2,298,293.14. This represents a 64.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Corporate insiders own 0.09% of the company's stock.

Cardinal Health Stock Down 1.2%

CAH traded down $1.83 during trading on Tuesday, reaching $148.44. The stock had a trading volume of 2,852,685 shares, compared to its average volume of 2,395,083. The stock has a 50 day moving average of $154.16 and a two-hundred day moving average of $148.08. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.29 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 for the quarter, beating the consensus estimate 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 business had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. During the same quarter last year, the business 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. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Cardinal Health's payout ratio is presently 31.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CAH shares. Bank of America raised their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Leerink Partners dropped their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Argus set a $189.00 target price on Cardinal Health in a research note on Friday, August 22nd. Robert W. Baird upped their target price on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $165.93.

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.