LGT Fund Management Co Ltd. Increases Holdings in Cardinal Health, Inc. $CAH

LGT Fund Management Co Ltd. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 26.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,100 shares of the company’s stock after buying an additional 5,747 shares during the period. LGT Fund Management Co Ltd.’s holdings in Cardinal Health were worth $4,553,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Cardinal Health by 5.3% during the 1st 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 during the period. Kingswood Wealth Advisors LLC grew its position in shares of Cardinal Health by 17.2% during the 1st 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 during the period. Assenagon Asset Management S.A. grew its position in shares of Cardinal Health by 25.8% during the 1st 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 during the period. Golden State Wealth Management LLC grew its position in shares of Cardinal Health by 569.5% during the 1st 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 during the period. Finally, North Capital Inc. bought a new stake in shares of Cardinal Health during the 1st quarter valued at $83,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 2.5%

Shares of CAH stock opened at $154.50 on Friday. The stock has a market cap of $36.71 billion, a P/E ratio of 23.95, a PEG 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. The company’s fifty day simple moving average is $152.07 and its two-hundred day simple moving average is $150.25.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 1.3%. Cardinal Health’s payout ratio is presently 31.63%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAH. Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Argus set a $189.00 price objective on shares of Cardinal Health in a research report on Friday, August 22nd. Leerink Partners dropped their target price on shares of Cardinal Health from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Saturday, September 27th. Finally, Evercore ISI dropped 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. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $165.93.

Insiders Place Their Bets

In other Cardinal Health news, CEO Jason M. Hollar sold 35,901 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total value of $5,386,586.04. Following the sale, the chief executive officer owned 200,000 shares in the company, valued at $30,008,000. The trade was a 15.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the sale, the insider owned 14,976 shares in the company, valued at approximately $2,228,728.32. The trade was a 47.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,676 shares of company stock worth $40,489,525. 0.12% of the stock is owned by corporate insiders.

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.