Tidal Investments LLC Lowers Stake in Cardinal Health, Inc. $CAH

Key Points

• Tidal Investments reduced its Cardinal Health stake by 41.8% in the second quarter, selling 47,421 shares and retaining 66,088 shares valued at approximately $15.7 million. Institutional investors overall own 87.17% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds. Cardinal Health has a consensus “Moderate Buy” rating and an average price target of $266.56.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates of $2.42, while revenue rose 5.8% year over year to $63.67 billion. The company also declared a quarterly dividend of $0.5158 per share, representing a 0.9% yield.

Tidal Investments LLC lessened its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 41.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,088 shares of the company's stock after selling 47,421 shares during the period. Tidal Investments LLC's holdings in Cardinal Health were worth $15,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CAH. California State Teachers Retirement System lifted its stake in shares of Cardinal Health by 22,881.2% during the 2nd quarter. California State Teachers Retirement System now owns 85,193,767 shares of the company's stock worth $20,238,631,000 after purchasing an additional 84,823,056 shares during the period. BlackRock Inc. purchased a new stake in shares of Cardinal Health in the second quarter valued at $6,293,115,000. Wellington Management Group LLP grew its position in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company's stock valued at $3,530,206,000 after purchasing an additional 10,584,119 shares during the period. Norges Bank acquired a new position in Cardinal Health in the fourth quarter valued at $790,344,000. Finally, Bank of America Corp DE acquired a new position in Cardinal Health in the second quarter valued at $689,066,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank Of Canada assumed coverage on Cardinal Health in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $276.00 price target on the stock. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Bank of America boosted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Finally, Weiss Ratings lowered shares of Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $266.56.

Insiders Place Their Bets

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Greene sold 11,650 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the transaction, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company's stock.

Cardinal Health Price Performance

NYSE CAH opened at $235.96 on Friday. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The firm has a market capitalization of $54.88 billion, a P/E ratio of 32.64, a P/E/G ratio of 1.44 and a beta of 0.51. The business's 50-day simple moving average is $234.47 and its 200-day simple moving average is $219.63.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter last year, the firm posted $2.08 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health's payout ratio is presently 28.49%.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.

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