Ignite Planners LLC Takes $269,000 Position in Cardinal Health, Inc. $CAH

Ignite Planners LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,688 shares of the company’s stock, valued at approximately $269,000.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after buying an additional 1,193,983 shares during the period. Northern Trust Corp boosted its holdings in Cardinal Health by 3.5% in the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock worth $433,012,000 after buying an additional 105,154 shares during the period. Wellington Management Group LLP boosted its holdings in Cardinal Health by 1,666.7% in the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock worth $328,470,000 after buying an additional 2,249,241 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Cardinal Health by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company’s stock worth $227,877,000 after buying an additional 52,714 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Cardinal Health by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,788 shares of the company’s stock worth $171,749,000 after buying an additional 7,940 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.7%

Shares of NYSE:CAH opened at $157.77 on Thursday. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44. The company has a 50-day moving average price of $152.03 and a 200 day moving average price of $150.75. The company has a market cap of $37.48 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.32 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm’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. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

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

Insider Buying and Selling

In related news, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction dated Tuesday, August 19th. The shares were 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 represents a 47.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the sale, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. This trade represents a 64.59% 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 over the last three months. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CAH shares. Citigroup reaffirmed a “neutral” rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Argus set a $189.00 price objective on shares of Cardinal Health in a report on Friday, August 22nd. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

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.