USS Investment Management Ltd Sells 10,600 Shares of Cardinal Health, Inc. $CAH

Key Points

• USS Investment Management Ltd has reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 31.2%, selling 10,600 shares and now holding 23,398 shares worth approximately $3.23 million.
• Cardinal Health recently reported $2.08 earnings per share (EPS) for the last quarter, which surpasses analysts' expectations of $2.03, while revenues grew 0.5% year-over-year.
• The company announced a quarterly dividend of $0.5107 per share, set to be paid on October 15th, reflecting an annualized dividend yield of 1.4%.

USS Investment Management Ltd decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 31.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,398 shares of the company's stock after selling 10,600 shares during the quarter. USS Investment Management Ltd's holdings in Cardinal Health were worth $3,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV lifted its stake in Cardinal Health by 3.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 31,224 shares of the company's stock worth $4,302,000 after acquiring an additional 1,089 shares during the period. NewEdge Advisors LLC lifted its stake in Cardinal Health by 29.0% in the first quarter. NewEdge Advisors LLC now owns 16,037 shares of the company's stock worth $2,209,000 after acquiring an additional 3,608 shares during the period. Nippon Life Global Investors Americas Inc. increased its holdings in shares of Cardinal Health by 9.6% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 312,410 shares of the company's stock valued at $43,041,000 after acquiring an additional 27,260 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock valued at $601,000 after acquiring an additional 280 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Cardinal Health by 1,186.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 172,363 shares of the company's stock valued at $23,746,000 after acquiring an additional 158,964 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. Citigroup reaffirmed a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Bank of America increased their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $165.93.

Insider Activity

In related news, insider Michelle D. Greene sold 13,500 shares of Cardinal Health 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 sale, the insider owned 14,976 shares of the company's stock, valued at approximately $2,228,728.32. This trade represents a 47.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total value of $16,037,274.50. Following the sale, the chief executive officer directly owned 235,901 shares in the company, valued at $35,125,658.90. This trade represents a 31.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is currently owned by corporate insiders.

Cardinal Health Stock Down 0.1%

NYSE:CAH traded down $0.14 on Friday, hitting $152.34. The stock had a trading volume of 1,162,569 shares, compared to its average volume of 2,399,280. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The business's 50-day simple moving average is $154.75 and its two-hundred day simple moving average is $147.48. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is presently 31.63%.

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.