Quantitative Investment Management LLC Has $431,000 Stock Holdings in Cardinal Health, Inc. $CAH

Quantitative Investment Management LLC decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 92.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,816 shares of the company’s stock after selling 22,553 shares during the quarter. Quantitative Investment Management LLC’s holdings in Cardinal Health were worth $431,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sigma Planning Corp increased its stake in shares of Cardinal Health by 31.4% in the second quarter. Sigma Planning Corp now owns 14,126 shares of the company’s stock worth $3,356,000 after acquiring an additional 3,379 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in Cardinal Health during the second quarter valued at $4,919,000. Benjamin Edwards Inc. grew its stake in Cardinal Health by 18.6% in the second quarter. Benjamin Edwards Inc. now owns 9,136 shares of the company’s stock valued at $2,170,000 after purchasing an additional 1,435 shares in the last quarter. Flputnam Investment Management Co. increased its position in Cardinal Health by 0.8% in the 2nd quarter. Flputnam Investment Management Co. now owns 70,728 shares of the company’s stock worth $16,802,000 after purchasing an additional 535 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its position in Cardinal Health by 0.4% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 227,784 shares of the company’s stock worth $54,112,000 after purchasing an additional 963 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the subject of a number of recent research reports. Royal Bank Of Canada started coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target for the company. TD Cowen boosted their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Evercore restated an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a report on Wednesday, August 12th. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Sixteen 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.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $239.25 on Wednesday. The business’s 50-day simple moving average is $233.53 and its 200-day simple moving average is $218.58. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The firm has a market cap of $55.64 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 1.41 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

Insiders Place Their Bets

In related news, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the sale, the insider owned 10,330 shares in the company, valued at $2,434,987.60. This represents a 53.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason M. Hollar sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total value of $18,859,200.00. Following the completion of the sale, the chief executive officer directly owned 235,132 shares in the company, valued at $55,430,017.68. This trade represents a 25.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 210,271 shares of company stock worth $49,626,657 in the last ninety days. 0.12% of the stock is owned by insiders.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.