LRI Investments LLC Grows Stake in Cardinal Health, Inc. $CAH

LRI Investments LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 44.9% during the second quarter, Holdings Channel reports. The fund owned 1,230 shares of the company’s stock after buying an additional 381 shares during the period. LRI Investments LLC’s holdings in Cardinal Health were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new position in Cardinal Health in the first quarter valued at about $26,000. Jones Financial Companies Lllp boosted 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 acquiring an additional 14,034 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. Garde Capital Inc. purchased a new position in Cardinal Health in the first quarter valued at about $52,000. Finally, Zions Bancorporation National Association UT purchased a new position in Cardinal Health in the first quarter valued at about $52,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.2%

Cardinal Health stock opened at $156.86 on Monday. The firm’s 50 day simple moving average is $152.09 and its 200 day simple moving average is $151.31. The firm has a market capitalization of $37.27 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. Cardinal Health, Inc. has a 1-year low of $106.98 and a 1-year high of $168.44.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion for 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 prior year, the firm posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Insider Transactions at Cardinal Health

In other news, insider Ola M. Snow sold 28,151 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider owned 15,431 shares of the company’s stock, valued at $2,298,293.14. This represents a 64.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 38,078 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 48,457 shares in the company, valued at $7,211,370.74. The trade was a 44.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,676 shares of company stock worth $40,489,525. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CAH shares. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Argus set a $189.00 price target on shares of Cardinal Health in a research note on Friday, August 22nd. UBS Group restated a “buy” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Robert W. Baird upped their price target on shares of Cardinal Health from $197.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.