HB Wealth Management LLC Increases Holdings in Cardinal Health, Inc. $CAH

HB Wealth Management LLC increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,573 shares of the company’s stock after buying an additional 142 shares during the quarter. HB Wealth Management LLC’s holdings in Cardinal Health were worth $1,776,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new stake in Cardinal Health in the first quarter valued at $26,000. GW&K Investment Management LLC raised its position in Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the period. NBC Securities Inc. purchased a new stake in Cardinal Health in the first quarter valued at $48,000. Zions Bancorporation National Association UT purchased a new stake in Cardinal Health in the first quarter valued at $52,000. Finally, Garde Capital Inc. purchased a new stake in Cardinal Health in the first quarter valued at $52,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CAH shares. Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research report on Tuesday, August 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.93.

Cardinal Health Price Performance

CAH opened at $158.50 on Friday. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44. The stock has a market capitalization of $37.66 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.34 and a beta of 0.71. The business has a fifty day moving average price of $152.12 and a 200 day moving average price of $150.09.

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

Cardinal Health Announces Dividend

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

Insider Activity

In other Cardinal Health news, 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 transaction of $2,009,070.00. Following the completion of the sale, the insider directly owned 14,976 shares of the company’s stock, valued at $2,228,728.32. The trade was a 47.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total value of $16,037,274.50. Following the sale, the chief executive officer directly owned 235,901 shares of the company’s stock, valued at $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 a total of 271,676 shares of company stock worth $40,489,525 over the last three months. Company insiders own 0.12% of the company’s stock.

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.