First Eagle Investment Management LLC Lowers Holdings in Cardinal Health, Inc. $CAH

First Eagle Investment Management LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 9.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,977 shares of the company’s stock after selling 1,039 shares during the quarter. First Eagle Investment Management LLC’s holdings in Cardinal Health were worth $1,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have 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 worth $328,470,000 after acquiring an additional 2,249,241 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in shares of Cardinal Health by 4,935.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock valued at $130,434,000 after purchasing an additional 927,950 shares during the last quarter. Nuveen LLC purchased a new position in shares of Cardinal Health during the first quarter valued at about $106,065,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Cardinal Health in the first quarter worth about $104,951,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAH. Argus increased their price target on Cardinal Health from $189.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Jefferies Financial Group set a $220.00 target price on Cardinal Health and gave the company a “buy” rating in a research report on Monday, November 3rd. Leerink Partners boosted their price target on shares of Cardinal Health from $187.00 to $211.00 in a research report on Friday, October 31st. Evercore ISI upped their price target on shares of Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Citigroup lifted their price objective on shares of Cardinal Health from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.00.

Insiders Place Their Bets

In other news, insider Michelle D. Greene sold 13,500 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 transaction of $2,009,070.00. Following the completion of the sale, the insider directly owned 14,976 shares in the company, valued at approximately $2,228,728.32. This trade represents a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ola M. Snow sold 28,151 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider owned 15,431 shares in the company, valued at approximately $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Insiders own 0.12% of the company’s stock.

Cardinal Health Trading Up 2.7%

CAH stock opened at $203.40 on Monday. The stock has a market cap of $48.33 billion, a PE ratio of 31.53, a P/E/G ratio of 1.39 and a beta of 0.72. Cardinal Health, Inc. has a 12 month low of $114.60 and a 12 month high of $203.67. The company has a 50-day moving average price of $160.02 and a 200 day moving average price of $156.87.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. During the same period in the prior year, the company posted $1.88 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio is 30.77%.

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.