USA Financial Formulas Lowers Stock Holdings in Cardinal Health, Inc. $CAH

USA Financial Formulas lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 16.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,410 shares of the company’s stock after selling 269 shares during the quarter. USA Financial Formulas’ holdings in Cardinal Health were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Cardinal Health by 5.3% in the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock valued at $43,510,000 after acquiring an additional 15,956 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock valued at $429,000 after acquiring an additional 457 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock valued at $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock valued at $54,000 after acquiring an additional 336 shares in the last quarter. Finally, North Capital Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at approximately $83,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the firm’s stock in a transaction on 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 sale, the insider owned 15,431 shares of the company’s stock, valued at $2,298,293.14. This trade represents a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction on 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 directly owned 48,457 shares of the company’s stock, valued at $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock valued at $40,489,525 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Stock Up 0.4%

CAH stock opened at $158.50 on Friday. The business has a fifty day moving average of $152.12 and a two-hundred day moving average of $150.09. The stock has a market cap of $37.66 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. Cardinal Health, Inc. has a 52-week low of $106.98 and a 52-week high of $168.44.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion during the quarter, compared to analysts’ expectations of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid 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 yield of 1.3%. Cardinal Health’s dividend payout ratio (DPR) is 31.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CAH shares. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Bank of America increased their price target on Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Finally, Leerink Partners cut their price target 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $165.93.

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.