Cardinal Health, Inc. $CAH Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,080 shares of the company’s stock after selling 4,363 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Cardinal Health were worth $2,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. acquired a new position in Cardinal Health during the first quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. GW&K Investment Management LLC boosted its position in Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the last quarter. Garde Capital Inc. acquired a new position in Cardinal Health during the first quarter worth about $52,000. Finally, Zions Bancorporation National Association UT acquired a new position in Cardinal Health during the first quarter worth about $52,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michelle D. Greene sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the sale, the insider directly owned 14,976 shares of the company’s stock, valued at $2,228,728.32. This represents a 47.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason M. Hollar sold 35,901 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the sale, the chief executive officer directly owned 200,000 shares in the company, valued at approximately $30,008,000. The trade was a 15.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock worth $40,489,525 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Down 0.2%

NYSE:CAH opened at $156.86 on Monday. The stock’s fifty day moving average is $152.09 and its two-hundred day moving average is $151.31. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44. The stock has a market capitalization 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.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $60.91 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. The firm’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. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Evercore ISI decreased their target price on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. Wells Fargo & Company reiterated 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. Finally, UBS Group reiterated a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.00.

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.