L2 Asset Management LLC Cuts Holdings in Cardinal Health, Inc. $CAH

L2 Asset Management LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 27.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,088 shares of the company’s stock after selling 11,256 shares during the quarter. L2 Asset Management LLC’s holdings in Cardinal Health were worth $5,055,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in 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 last quarter. Atlantic Edge Private Wealth Management LLC grew its position in shares of Cardinal Health by 75.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 75 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 71 shares during the last quarter. NewSquare Capital LLC boosted its stake in Cardinal Health by 100.0% in the second quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock valued at $36,000 after acquiring an additional 107 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new position in Cardinal Health in the second quarter worth $41,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 0.1%

NYSE:CAH opened at $198.93 on Monday. The firm has a market cap of $47.27 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 1.45 and a beta of 0.63. The stock has a 50 day moving average of $182.59 and a two-hundred day moving average of $165.21. Cardinal Health, Inc. has a 12 month low of $114.60 and a 12 month high of $214.93.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.33. The company had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a $0.5107 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health’s payout ratio is currently 30.77%.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Evercore ISI lifted their target price on shares of Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Leerink Partners upped their price target on shares of Cardinal Health from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company boosted their target price on shares of Cardinal Health from $185.00 to $221.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.57.

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.