Independence Bank of Kentucky Reduces Position in Cardinal Health, Inc. $CAH

Independence Bank of Kentucky decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,725 shares of the company’s stock after selling 500 shares during the period. Independence Bank of Kentucky’s holdings in Cardinal Health were worth $458,000 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. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cardinal Health in the first quarter valued at $26,000. Jones Financial Companies Lllp grew its position 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 during the period. GW&K Investment Management LLC grew its position 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 during the period. NBC Securities Inc. purchased a new stake in shares of Cardinal Health in the first quarter valued at $48,000. Finally, Garde Capital Inc. purchased a new stake in shares of Cardinal Health in the first quarter valued at $52,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $154.79 on Tuesday. Cardinal Health, Inc. has a 1-year low of $106.98 and a 1-year high of $168.44. The business has a 50-day moving average of $152.12 and a 200-day moving average of $149.79. The company has a market capitalization of $36.78 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.30 and a beta of 0.73.

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

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.5107 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Cardinal Health’s payout ratio is 31.63%.

Insiders Place Their Bets

In related news, insider Ola M. Snow sold 28,151 shares of the business’s 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 transaction, the insider owned 15,431 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Stephen M. Mason sold 41,575 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the completion of the transaction, the chief executive officer owned 26,085 shares in the company, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent analyst reports. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Robert W. Baird lifted their price objective on Cardinal Health from $197.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.93.

Cardinal Health 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.