Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in Cardinal Health, Inc. $CAH

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,805 shares of the company’s stock after purchasing an additional 69 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cardinal Health were worth $2,991,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in 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 buying an additional 15,956 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock valued at $429,000 after buying an additional 457 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock valued at $1,811,000 after buying an additional 2,694 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock valued at $54,000 after buying an additional 336 shares in the last quarter. Finally, North Capital Inc. bought a new stake in Cardinal Health during the 1st quarter valued at about $83,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 2.5%

NYSE CAH opened at $154.50 on Friday. The firm has a market cap of $36.71 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. The company has a 50 day moving average price of $152.07 and a 200 day moving average price of $150.25. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44.

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

Cardinal Health Announces Dividend

The company 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. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health’s payout ratio is 31.63%.

Insider Activity

In related news, insider Ola M. Snow sold 28,151 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider owned 15,431 shares in the company, valued at $2,298,293.14. The trade was a 64.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen M. Mason sold 41,575 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 $6,187,191.50. Following the transaction, the chief executive officer owned 26,085 shares in the company, valued at $3,881,969.70. The trade was a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock worth $40,489,525 over the last 90 days. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CAH shares. Leerink Partners decreased their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Bank of America lifted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Evercore ISI lowered their price target on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, August 13th. Finally, Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently 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.