T. Rowe Price Investment Management Inc. Purchases New Shares in Cardinal Health, Inc. $CAH

Key Points

• T. Rowe Price Investment Management Inc. invested approximately $104.95 million in Cardinal Health, acquiring 761,781 shares in the first quarter, representing about 0.32% ownership.
• Insider trading activity included significant share sales by executives, with the CEO selling 107,705 shares worth over $16 million, indicating potential confidence concerns in the company's stock.
• Cardinal Health recently reported earnings per share of $2.08, exceeding expectations, while also announcing a quarterly dividend of $0.5107 per share, reflecting a yield of 1.3%.

T. Rowe Price Investment Management Inc. bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 761,781 shares of the company's stock, valued at approximately $104,951,000. T. Rowe Price Investment Management Inc. owned 0.32% of Cardinal Health as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Cardinal Health by 11.2% during the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after buying an additional 77 shares in the last quarter. Applied Finance Capital Management LLC boosted its holdings in shares of Cardinal Health by 1.4% during the 1st quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after buying an additional 85 shares in the last quarter. CSS LLC IL boosted its holdings 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 worth $1,323,000 after buying an additional 90 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings 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 worth $309,000 after buying an additional 90 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV boosted its holdings in shares of Cardinal Health by 2.1% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

Cardinal Health stock traded down $3.5270 during trading hours on Friday, reaching $148.0430. The company had a trading volume of 2,685,985 shares, compared to its average volume of 2,600,685. The company has a 50-day moving average price of $159.02 and a 200 day moving average price of $145.58. The firm has a market cap of $35.35 billion, a price-to-earnings 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 announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced 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 payout ratio is 31.63%.

Insider Activity

In other news, insider Michelle D. Greene sold 13,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 14,976 shares of the company's stock, valued at approximately $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen M. Mason sold 41,575 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 value of $6,187,191.50. Following the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at $3,881,969.70. This trade represents a 61.45% 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 valued at $40,489,525. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group reissued a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Citigroup reaffirmed a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, Bank of America raised their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $163.20.

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.