Essex LLC Invests $467,000 in Cardinal Health, Inc. $CAH

Essex LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 2,780 shares of the company’s stock, valued at approximately $467,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Tree Management LP increased its holdings in Cardinal Health by 55.9% in the 2nd quarter. Twin Tree Management LP now owns 129,657 shares of the company’s stock worth $21,782,000 after purchasing an additional 46,485 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Cardinal Health by 174.9% during the second quarter. Harbour Investments Inc. now owns 3,447 shares of the company’s stock worth $579,000 after purchasing an additional 2,193 shares during the last quarter. Innova Wealth Partners acquired a new position in shares of Cardinal Health in the second quarter valued at approximately $245,000. Bayforest Capital Ltd bought a new position in Cardinal Health in the 2nd quarter valued at approximately $476,000. Finally, Sagespring Wealth Partners LLC boosted its position in Cardinal Health by 4.7% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 1,768 shares of the company’s stock worth $297,000 after buying an additional 80 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.1%

Shares of Cardinal Health stock opened at $154.11 on Wednesday. The business has a 50-day moving average price of $151.92 and a two-hundred day moving average price of $151.45. Cardinal Health, Inc. has a 1-year low of $106.98 and a 1-year high of $168.44. The company has a market cap of $36.61 billion, a P/E ratio of 23.89, a PEG ratio of 1.30 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm’s revenue was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Insider Buying and Selling

In other news, insider Ola M. Snow sold 28,151 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the transaction, the insider owned 15,431 shares of the company’s stock, valued at $2,298,293.14. This represents a 64.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica L. Mayer sold 38,078 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were 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 of the company’s stock, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock worth $40,489,525 over the last ninety days. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAH. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Robert W. Baird lifted their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Leerink Partners increased their price target on Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.