Synovus Financial Corp Has $6.87 Million Position in Cardinal Health, Inc. $CAH

Key Points

• Synovus Financial Corp reduced its stake in Cardinal Health by 7.4% in Q1, holding 49,862 shares valued at approximately $6.87 million.
• Insider sales are significant, with insiders selling 271,676 shares worth over $40 million in the last 90 days, reducing their ownership to just 0.09%.
• Analysts are generally optimistic about Cardinal Health, with a consensus rating of "Moderate Buy" and a price target of $163.20, while shares recently fell 2.3% to $148.04.

Synovus Financial Corp lessened its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,862 shares of the company's stock after selling 3,987 shares during the period. Synovus Financial Corp's holdings in Cardinal Health were worth $6,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Greykasell Wealth Strategies Inc. bought a new position in shares of Cardinal Health in the 1st quarter valued at about $26,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at about $32,000. Tompkins Financial Corp grew its position in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after acquiring an additional 128 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Cardinal Health in the 4th quarter valued at about $36,000. Finally, GW&K Investment Management LLC grew its position in shares of Cardinal Health by 113.4% in the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after acquiring an additional 144 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CAH shares. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Robert W. Baird lifted their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Bank of America lifted their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus price target of $163.20.

Insider Buying and Selling

In other news, insider Ola M. Snow sold 28,151 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the transaction, the insider directly owned 15,431 shares in the company, valued at approximately $2,298,293.14. The trade was a 64.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 48,457 shares of the company's stock, valued at $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is owned by company insiders.

Cardinal Health Stock Down 2.3%

NYSE CAH opened at $148.0430 on Monday. The firm has a 50-day moving average price of $159.02 and a two-hundred day moving average price of $145.58. The company has a market capitalization of $35.35 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.25 and a beta of 0.67. Cardinal Health, Inc. has a 12-month low of $106.54 and a 12-month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its 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. The company had revenue of $60.16 billion during the quarter, compared to analysts' expectations 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 for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

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

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