Cardinal Health, Inc. $CAH Stock Position Trimmed by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.8% in the second quarter, HoldingsChannel reports. The firm owned 13,598 shares of the company’s stock after selling 1,144 shares during the period. Cardinal Health makes up 1.7% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 12th largest position. Persistent Asset Partners Ltd’s holdings in Cardinal Health were worth $2,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 1,666.7% during the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock valued at $328,470,000 after buying an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. increased its position in Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after acquiring an additional 1,193,983 shares during the period. Zurich Insurance Group Ltd FI raised its stake in Cardinal Health by 4,935.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock valued at $130,434,000 after acquiring an additional 927,950 shares in the last quarter. Acadian Asset Management LLC boosted its position in Cardinal Health by 92.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after acquiring an additional 807,063 shares during the period. Finally, Nuveen LLC bought a new position in shares of Cardinal Health in the first quarter worth $106,065,000. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at Cardinal Health

In related news, CEO Jason M. Hollar sold 35,901 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total value of $5,386,586.04. Following the completion of the transaction, the chief executive officer owned 200,000 shares in the company, valued at $30,008,000. This trade represents a 15.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of Cardinal Health 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 completion of the transaction, the insider directly owned 14,976 shares in the company, valued at $2,228,728.32. This represents a 47.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 271,676 shares of company stock valued at $40,489,525 over the last 90 days. 0.12% of the stock is owned by insiders.

Cardinal Health Price Performance

NYSE CAH opened at $205.35 on Friday. Cardinal Health, Inc. has a 12 month low of $114.60 and a 12 month high of $208.32. The company has a market capitalization of $48.79 billion, a P/E ratio of 31.84, a PEG ratio of 1.39 and a beta of 0.72. The company’s 50 day simple moving average is $165.58 and its 200 day simple moving average is $159.09.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion during the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. Cardinal Health’s payout ratio is 30.77%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Cardinal Health from $170.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Evercore ISI raised their target price on shares of Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, October 8th. TD Cowen raised their price objective on shares of Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Leerink Partners boosted their target price on Cardinal Health from $187.00 to $211.00 in a report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $205.00.

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.