Access Investment Management LLC Takes Position in Cardinal Health, Inc. $CAH

Access Investment Management LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,460 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock worth $43,510,000 after acquiring an additional 15,956 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Cardinal Health by 4.0% during the second quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock worth $19,185,000 after purchasing an additional 4,400 shares during the last quarter. Czech National Bank grew its position in shares of Cardinal Health by 5.1% in the second quarter. Czech National Bank now owns 58,341 shares of the company’s stock valued at $9,801,000 after purchasing an additional 2,857 shares during the period. Zurich Insurance Group Ltd FI increased its stake in Cardinal Health by 4,935.9% in the first 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. Finally, Accurate Wealth Management LLC lifted its position in Cardinal Health by 92.8% during the second quarter. Accurate Wealth Management LLC now owns 3,627 shares of the company’s stock worth $588,000 after buying an additional 1,746 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CAH shares. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Citigroup lifted their price target on shares of Cardinal Health from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday. UBS Group upped their price objective on Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 target price (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, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.87.

Insider Activity

In other news, insider Ola M. Snow sold 28,151 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,298,293.14. This trade represents a 64.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason M. Hollar sold 35,901 shares of Cardinal Health stock in a transaction dated Wednesday, August 20th. The shares were 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 directly owned 200,000 shares of the company’s stock, valued at $30,008,000. This trade represents a 15.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 271,676 shares of company stock valued at $40,489,525 over the last quarter. 0.12% of the stock is owned by company insiders.

Cardinal Health Stock Performance

Shares of CAH opened at $190.65 on Monday. Cardinal Health, Inc. has a one year low of $107.11 and a one year high of $197.67. The stock has a 50-day moving average price of $155.17 and a 200 day moving average price of $154.65. The company has a market capitalization of $45.29 billion, a P/E ratio of 29.56, a P/E/G ratio of 1.39 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. The company had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.Cardinal Health’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.5107 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.1%. Cardinal Health’s payout ratio is presently 30.77%.

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.