Janney Montgomery Scott LLC Sells 32,421 Shares of Cardinal Health, Inc. $CAH

Janney Montgomery Scott LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 204,798 shares of the company’s stock after selling 32,421 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.09% of Cardinal Health worth $34,406,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Greykasell Wealth Strategies Inc. purchased a new stake in Cardinal Health in the first quarter worth $26,000. GW&K Investment Management LLC increased its position in Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after buying an additional 144 shares during the last quarter. NBC Securities Inc. purchased a new stake in Cardinal Health in the first quarter worth $48,000. Zions Bancorporation National Association UT purchased a new stake in Cardinal Health in the first quarter worth $52,000. Finally, Garde Capital Inc. purchased a new stake in Cardinal Health in the first quarter worth $52,000. 87.17% of the stock is currently owned by institutional investors.

Insider Activity at Cardinal Health

In related news, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the completion of the sale, the chief executive officer owned 26,085 shares of the company’s stock, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 35,901 shares of Cardinal Health 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 directly owned 200,000 shares of the company’s stock, valued at $30,008,000. This represents a 15.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock valued at $40,489,525 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Cardinal Health Stock Performance

NYSE:CAH opened at $157.79 on Thursday. The firm has a market capitalization of $37.49 billion, a price-to-earnings 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. The stock has a fifty day moving average of $152.11 and a 200 day moving average of $149.90.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion during 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 firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.3%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.63%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research report on Tuesday, August 12th. Robert W. Baird raised their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Citigroup reiterated a “neutral” rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target 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.