The Manufacturers Life Insurance Company Reduces Position in Cardinal Health, Inc. $CAH

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in Cardinal Health, Inc. by 1.1%, now owning 214,533 shares valued at approximately $29.56 million.
• Cardinal Health's earnings report on August 12 showed an EPS of $2.08, surpassing estimates, with revenue of $60.16 billion, slightly below expectations.
• The company also announced a quarterly dividend of $0.5107 per share, representing an annualized rate of $2.04 and a dividend yield of 1.4%.

The Manufacturers Life Insurance Company cut its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,533 shares of the company's stock after selling 2,307 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Cardinal Health worth $29,556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CAH. Aptus Capital Advisors LLC lifted its stake in Cardinal Health by 97.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 3,796 shares of the company's stock valued at $449,000 after acquiring an additional 1,877 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $39,910,000. Brown Advisory Inc. lifted its stake in Cardinal Health by 9.1% during the 4th quarter. Brown Advisory Inc. now owns 169,633 shares of the company's stock valued at $20,062,000 after acquiring an additional 14,087 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $141,963,000. Finally, Captrust Financial Advisors lifted its stake in Cardinal Health by 2.8% during the 4th quarter. Captrust Financial Advisors now owns 25,913 shares of the company's stock valued at $3,065,000 after acquiring an additional 715 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 38,078 shares of the company's stock in a transaction 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 sale, the insider owned 48,457 shares of the company's stock, valued at $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the sale, the insider directly owned 15,431 shares of the company's stock, valued at $2,298,293.14. The trade was a 64.59% 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 90 days. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on CAH. Wall Street Zen cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 target price (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Evercore ISI cut their target price on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Price Performance

NYSE CAH traded up $0.14 on Friday, hitting $149.48. The company had a trading volume of 1,715,434 shares, compared to its average volume of 2,643,307. The company has a market capitalization of $35.69 billion, a PE ratio of 23.17, a PEG ratio of 1.26 and a beta of 0.73. The company's fifty day moving average price is $155.86 and its 200-day moving average price is $146.83. 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 quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion during 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 firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business 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 of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is presently 31.63%.

About Cardinal Health

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.