Swedbank AB Boosts Stake in Cardinal Health, Inc. $CAH

Swedbank AB raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 441,396 shares of the company’s stock after buying an additional 9,429 shares during the quarter. Swedbank AB’s holdings in Cardinal Health were worth $60,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after buying an additional 1,193,983 shares in the last quarter. Northern Trust Corp grew its position in Cardinal Health by 3.5% during the first quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock worth $433,012,000 after buying an additional 105,154 shares in the last quarter. Wellington Management Group LLP grew its position in 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 buying an additional 2,249,241 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company’s stock worth $274,599,000 after buying an additional 94,768 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cardinal Health by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company’s stock worth $227,877,000 after buying an additional 52,714 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI cut their price objective on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Citigroup reiterated a “neutral” rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Finally, Leerink Partners cut their price objective on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.93.

Cardinal Health Trading Down 0.1%

NYSE CAH opened at $152.34 on Friday. Cardinal Health, Inc. has a 1-year low of $106.54 and a 1-year high of $168.44. The stock has a 50-day moving average of $154.50 and a 200-day moving average of $147.65. The firm has a market cap of $36.38 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share 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 during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the previous year, the company 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. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 35,901 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the completion of the transaction, the chief executive officer owned 200,000 shares of the company’s stock, valued at $30,008,000. This represents a 15.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares of the company’s stock, valued at $2,298,293.14. The trade was a 64.59% decrease in their position. 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 in the last 90 days. 0.09% of the stock is currently owned by company insiders.

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.