Wedge Capital Management L L P NC Cuts Holdings in Cardinal Health, Inc. $CAH

Key Points

• Wedge Capital Management has reduced its holdings in Cardinal Health, Inc. by 22.2%, selling 56,792 shares during the second quarter and now owning 198,672 shares valued at approximately $33.4 million.
• Insider Jessica L. Mayer sold 38,078 shares of Cardinal Health, representing a 44% decrease in her position, as part of broader insider trading activities that accounted for a total of 271,676 shares sold worth around $40.5 million in the last three months.
• Cardinal Health has declared a quarterly dividend of $0.5107 per share, with an ex-dividend date on October 1st, reflecting a projected annual dividend yield of 1.4%.

Wedge Capital Management L L P NC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 198,672 shares of the company's stock after selling 56,792 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of Cardinal Health worth $33,377,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CAH. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cardinal Health in the first quarter valued at about $26,000. Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after buying an additional 14,034 shares in the last quarter. Tompkins Financial Corp grew its stake in Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after buying an additional 128 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after acquiring an additional 144 shares during the period. Finally, NBC Securities Inc. bought a new position in shares of Cardinal Health during the first quarter valued at $48,000. Institutional investors own 87.17% of the company's stock.

Insider Activity

In related news, insider Jessica L. Mayer sold 38,078 shares of the company's stock in a transaction 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 completion of the transaction, the insider directly owned 48,457 shares in the company, valued at $7,211,370.74. This represents a 44.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle D. Greene sold 13,500 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the sale, the insider directly owned 14,976 shares of the company's stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

Cardinal Health Trading Down 0.3%

CAH opened at $149.56 on Friday. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44. The company has a 50 day moving average of $153.06 and a 200 day moving average of $148.39. The company has a market cap of $35.53 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last issued 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.5107 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Cardinal Health's dividend payout ratio (DPR) is currently 31.63%.

Analysts Set New Price Targets

A number of research firms have commented on CAH. Wells Fargo & Company reissued an "overweight" rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a research report on Tuesday, August 12th. Morgan Stanley restated an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Argus set a $189.00 price target on Cardinal Health in a research report on Friday, August 22nd. Finally, Citigroup restated a "neutral" rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $165.93.

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.

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