Hartford Investment Management Co. Sells 342 Shares of Cardinal Health, Inc. $CAH

Hartford Investment Management Co. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,455 shares of the company’s stock after selling 342 shares during the period. Hartford Investment Management Co.’s holdings in Cardinal Health were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cardinal Health during the first quarter valued at approximately $26,000. Jones Financial Companies Lllp grew its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. Tompkins Financial Corp grew its holdings in shares of Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock valued at $34,000 after purchasing an additional 128 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at $48,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 3.3%

Shares of CAH opened at $153.84 on Friday. The firm has a market capitalization of $36.55 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.30 and a beta of 0.73. Cardinal Health, Inc. has a 12-month low of $106.98 and a 12-month high of $168.44. The firm has a fifty day moving average price of $152.20 and a 200-day moving average price of $149.44.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $60.16 billion during 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 business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current 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 dividend of $0.5107 per share. 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%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI cut their target price on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a report on Tuesday, August 12th. Wells Fargo & Company reissued an “overweight” rating and issued a $185.00 target price (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. UBS Group reaffirmed a “buy” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Robert W. Baird lifted their price objective on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.93.

Insider Transactions at Cardinal Health

In related news, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the sale, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the sale, the insider owned 14,976 shares of the company’s stock, valued at $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock valued at $40,489,525 over the last three months. 0.12% of the stock is currently owned by corporate insiders.

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.