Louisiana State Employees Retirement System Has $2.12 Million Stock Position in Cardinal Health, Inc. $CAH

Louisiana State Employees Retirement System cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.1% in the second quarter, Holdings Channel reports. The firm owned 12,600 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cardinal Health were worth $2,117,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Shell Asset Management Co. grew its stake in shares of Cardinal Health by 17.4% during the second quarter. Shell Asset Management Co. now owns 22,438 shares of the company’s stock worth $3,770,000 after purchasing an additional 3,327 shares during the period. KLP Kapitalforvaltning AS grew its stake in shares of Cardinal Health by 4.0% during the second quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock worth $19,185,000 after purchasing an additional 4,400 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of Cardinal Health by 18.4% during the second quarter. Prime Capital Investment Advisors LLC now owns 7,392 shares of the company’s stock worth $1,242,000 after purchasing an additional 1,150 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Cardinal Health during the second quarter worth $425,000. Finally, DAVENPORT & Co LLC grew its stake in shares of Cardinal Health by 28.7% during the second quarter. DAVENPORT & Co LLC now owns 8,592 shares of the company’s stock worth $1,443,000 after purchasing an additional 1,918 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 sale, the chief executive officer directly owned 26,085 shares in the company, valued at $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the company’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 $5,666,767.96. Following the sale, the insider owned 48,457 shares in the company, valued at $7,211,370.74. The trade was a 44.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,676 shares of company stock valued at $40,489,525. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAH shares. Citigroup reaffirmed a “neutral” rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday. Argus set a $189.00 target price on Cardinal Health in a report on Friday, August 22nd. Finally, Jefferies Financial Group set a $150.00 target price on Cardinal Health in a report on Tuesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.00.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $156.86 on Friday. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. The stock’s 50-day moving average is $152.09 and its 200-day moving average is $151.09. Cardinal Health, Inc. has a one year low of $106.98 and a one year high of $168.44.

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

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued 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 is Wednesday, October 1st. Cardinal Health’s payout ratio is 31.63%.

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.