Geneos Wealth Management Inc. Has $1.91 Million Stake in Cardinal Health, Inc. $CAH

Geneos Wealth Management Inc. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.5% in the first quarter, Holdings Channel reports. The firm owned 13,854 shares of the company’s stock after selling 4,030 shares during the period. Geneos Wealth Management Inc.’s holdings in Cardinal Health were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAH. Wellington Management Group LLP grew its holdings 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 valued at $328,470,000 after purchasing an additional 2,249,241 shares during the period. JPMorgan Chase & Co. grew its holdings in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after purchasing an additional 1,193,983 shares during the period. GAMMA Investing LLC grew its holdings in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company’s stock valued at $132,940,000 after purchasing an additional 959,486 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in Cardinal Health by 4,935.9% during 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 period. Finally, Nuveen LLC acquired a new position in Cardinal Health during the first quarter valued at approximately $106,065,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.1%

Shares of CAH stock opened at $152.47 on Friday. The company’s fifty day simple moving average is $154.75 and its 200-day simple moving average is $147.48. The firm has a market cap of $36.41 billion, a PE ratio of 23.64, a P/E/G ratio of 1.26 and a beta of 0.73. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given 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 currently 31.63%.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 38,078 shares of the business’s 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 sale, the insider 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ola M. Snow sold 28,151 shares of the company’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 sale, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. This trade represents a 64.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock valued at $40,489,525 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Bank of America lifted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. 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 research note on Wednesday, August 13th. Finally, UBS Group reaffirmed a “buy” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.93.

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.