Voya Investment Management LLC Has $29.58 Million Stake in Cardinal Health, Inc. $CAH

Key Points

• Voya Investment Management LLC has increased its stake in Cardinal Health, acquiring a total of 214,693 shares valued at approximately $29.58 million after a 6.5% increase in the first quarter.
• Cardinal Health has announced a quarterly dividend of $0.5107 per share to be paid on October 15, reflecting a yield of 1.3% for shareholders recorded by October 1.
• Analysts have mixed views on Cardinal Health, with a current average rating of "Moderate Buy" and price targets varying, with the highest set at $203.00.

Voya Investment Management LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,693 shares of the company's stock after acquiring an additional 13,158 shares during the period. Voya Investment Management LLC owned 0.09% of Cardinal Health worth $29,578,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CAH. Principal Financial Group Inc. raised its holdings in shares of Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after buying an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in Cardinal Health by 17.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after acquiring an additional 457 shares during the period. Assenagon Asset Management S.A. raised its stake in Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after acquiring an additional 336 shares during the period. Finally, North Capital Inc. acquired a new position in Cardinal Health during the 1st quarter worth $83,000. 87.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 38,078 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 $5,666,767.96. Following the sale, the insider directly owned 48,457 shares in the company, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 107,705 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total transaction of $16,037,274.50. Following the completion of 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. Insiders have sold a total of 271,676 shares of company stock valued at $40,489,525 in the last three months. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAH shares. Robert W. Baird upped their price objective 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. Evercore ISI reduced their price target on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price objective (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 Cardinal Health in a report on Tuesday, August 12th. Finally, Argus set a $189.00 target price on Cardinal Health in a research report on Friday, August 22nd. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and an average price target of $165.93.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $1.83 during mid-day trading on Tuesday, reaching $148.44. The company had a trading volume of 2,852,685 shares, compared to its average volume of 2,395,083. Cardinal Health, Inc. has a twelve month low of $106.54 and a twelve month high of $168.44. The stock's 50 day moving average is $154.16 and its 200-day moving average is $148.08. The stock has a market capitalization of $35.45 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its 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 the consensus estimate of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid 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 dividend payout ratio (DPR) 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.