Ascent Group LLC Raises Position in Cardinal Health, Inc. $CAH

Ascent Group LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 60.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,600 shares of the company’s stock after purchasing an additional 2,491 shares during the period. Ascent Group LLC’s holdings in Cardinal Health were worth $1,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CAH. NBC Securities Inc. bought a new position in shares of Cardinal Health during the 1st quarter worth $48,000. Merit Financial Group LLC boosted its position in Cardinal Health by 78.2% during the first quarter. Merit Financial Group LLC now owns 6,522 shares of the company’s stock worth $898,000 after purchasing an additional 2,862 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Cardinal Health by 21.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 995 shares of the company’s stock worth $137,000 after purchasing an additional 174 shares in the last quarter. Pines Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 1st quarter valued at approximately $231,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in Cardinal Health in the 1st quarter worth approximately $207,000. 87.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction that occurred on 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 owned 48,457 shares in the company, valued at $7,211,370.74. The trade was a 44.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ola M. Snow sold 28,151 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the sale, the insider directly owned 15,431 shares of the company’s stock, valued at approximately $2,298,293.14. This represents a 64.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CAH shares. Robert W. Baird increased their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Bank of America raised their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. UBS Group reissued a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Evercore ISI reduced their price objective on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, August 13th. Finally, Citigroup reiterated a “neutral” rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $165.93.

Cardinal Health Trading Down 2.5%

CAH stock opened at $154.50 on Monday. The company’s 50 day moving average is $152.07 and its 200 day moving average is $150.50. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71. Cardinal Health, Inc. has a 1-year low of $106.98 and a 1-year high of $168.44.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion during the quarter, compared to analysts’ expectations of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

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.