GC Wealth Management RIA LLC Purchases New Stake in Cardinal Health, Inc. $CAH

GC Wealth Management RIA LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,144 shares of the company’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised 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 in the last quarter. Kingswood Wealth Advisors LLC increased its position in Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock worth $429,000 after buying an additional 457 shares during the period. Assenagon Asset Management S.A. increased its position in Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock worth $1,811,000 after buying an additional 2,694 shares during the period. Golden State Wealth Management LLC increased its position in Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock worth $54,000 after buying an additional 336 shares during the period. Finally, North Capital Inc. acquired a new stake in Cardinal Health in the first quarter worth $83,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.5%

Shares of CAH opened at $157.79 on Thursday. The firm has a 50-day moving average price of $152.11 and a 200 day moving average price of $149.90. The firm has a market capitalization of $37.49 billion, a PE ratio of 24.46, a P/E/G ratio of 1.33 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.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm 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%.Cardinal Health’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $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 Announces Dividend

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

Insider Activity

In related news, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the transaction, the insider directly owned 48,457 shares of the company’s stock, valued at $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares of the company’s stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 over the last quarter. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Leerink Partners dropped their target price on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 target price (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Bank of America increased their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research report on Tuesday, August 12th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.