Verity Asset Management Inc. Buys New Holdings in Cardinal Health, Inc. $CAH

Verity Asset Management Inc. purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,403 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock worth $43,510,000 after acquiring an additional 15,956 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in Cardinal Health by 4.0% during the second quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock worth $19,185,000 after acquiring an additional 4,400 shares in the last quarter. Czech National Bank raised its stake in Cardinal Health by 5.1% during the second quarter. Czech National Bank now owns 58,341 shares of the company’s stock worth $9,801,000 after acquiring an additional 2,857 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake 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 in the last quarter. Finally, Accurate Wealth Management LLC raised its stake in Cardinal Health by 92.8% during the second quarter. Accurate Wealth Management LLC now owns 3,627 shares of the company’s stock worth $588,000 after acquiring an additional 1,746 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $190.22 on Tuesday. Cardinal Health, Inc. has a one year low of $110.63 and a one year high of $197.67. The company’s 50 day simple moving average is $156.05 and its 200-day simple moving average is $155.04. The stock has a market capitalization of $45.19 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.55 EPS 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 analyst estimates of $59.41 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company’s revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 30.77%.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 38,078 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 $5,666,767.96. Following the completion of the sale, the insider directly owned 48,457 shares in the company, valued at $7,211,370.74. This trade represents a 44.00% 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, 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 sale, the insider owned 14,976 shares of the company’s stock, valued at approximately $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, October 8th. Evercore ISI increased their price objective on Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group set a $220.00 target price on Cardinal Health and gave the company a “buy” rating in a research note on Monday. Finally, TD Cowen raised their target price on Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $200.54.

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.