Swedbank AB Increases Stock Holdings in Cardinal Health, Inc. $CAH

Swedbank AB lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 441,396 shares of the company’s stock after buying an additional 9,429 shares during the period. Swedbank AB owned about 0.18% of Cardinal Health worth $60,811,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CAH. Wellington Management Group LLP boosted its position 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. lifted its holdings in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after acquiring an additional 1,193,983 shares during the period. GAMMA Investing LLC lifted its holdings in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company’s stock worth $132,940,000 after acquiring an additional 959,486 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in Cardinal Health by 4,935.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock worth $130,434,000 after acquiring an additional 927,950 shares during the period. Finally, Nuveen LLC bought a new stake in Cardinal Health during the first quarter worth $106,065,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CAH. Citigroup reiterated a “neutral” rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Bank of America lifted their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Leerink Partners dropped their price target on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.93.

Insider Buying and Selling

In other news, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the completion of the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total value of $16,037,274.50. Following the completion of the transaction, the chief executive officer owned 235,901 shares of the company’s stock, valued at approximately $35,125,658.90. This trade represents a 31.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $152.34 on Friday. The firm has a market cap of $36.38 billion, a PE ratio of 23.62, a PEG ratio of 1.29 and a beta of 0.73. The stock’s fifty day moving average price is $154.50 and its two-hundred day moving average price is $147.65. Cardinal Health, Inc. has a 1 year low of $106.54 and a 1 year high of $168.44.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.3%. Cardinal Health’s payout ratio is 31.63%.

Cardinal Health 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.