Three Seasons Wealth LLC Increases Stock Holdings in Cardinal Health, Inc. $CAH

Three Seasons Wealth LLC raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 67.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,481 shares of the company’s stock after purchasing an additional 3,015 shares during the quarter. Three Seasons Wealth LLC’s holdings in Cardinal Health were worth $1,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAH. Raiffeisen Bank International AG lifted its stake in shares of Cardinal Health by 1.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 6,363 shares of the company’s stock worth $1,503,000 after purchasing an additional 105 shares during the period. NEOS Investment Management LLC grew its position in Cardinal Health by 10.4% during the second quarter. NEOS Investment Management LLC now owns 37,684 shares of the company’s stock valued at $8,933,000 after buying an additional 3,549 shares during the period. Power Wealth Management LLC bought a new stake in Cardinal Health during the second quarter valued at approximately $261,000. AXQ Capital LP increased its holdings in Cardinal Health by 30.8% during the second quarter. AXQ Capital LP now owns 9,817 shares of the company’s stock valued at $2,332,000 after buying an additional 2,312 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new stake in Cardinal Health during the second quarter valued at approximately $171,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In related news, CEO Stephen Mason sold 35,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer directly owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michelle Greene sold 11,650 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the sale, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock valued at $49,626,657 in the last quarter. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Barclays upped their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Evercore reaffirmed an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Leerink Partners set a $292.00 price target on Cardinal Health in a report on Tuesday, August 11th. Finally, Morgan Stanley upped their price target on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Stock Down 0.8%

NYSE CAH opened at $246.67 on Friday. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The business has a 50-day moving average price of $234.23 and a 200-day moving average price of $219.18. The firm has a market cap of $57.37 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s revenue 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. Research analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. Cardinal Health’s dividend payout ratio is currently 28.49%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.