WBI Investments LLC Acquires New Position in Cardinal Health, Inc. $CAH

WBI Investments LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,310 shares of the company’s stock, valued at approximately $1,228,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of Cardinal Health by 1,666.7% during the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock worth $328,470,000 after acquiring an additional 2,249,241 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after buying an additional 1,193,983 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Cardinal Health by 4,935.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock worth $130,434,000 after buying an additional 927,950 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Cardinal Health by 92.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after buying an additional 807,063 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Cardinal Health in the 1st quarter valued at about $106,065,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAH. Citigroup lifted their target price on shares of Cardinal Health from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. UBS Group upped their target price on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Argus raised their price target on Cardinal Health from $189.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, TD Cowen lifted their price objective on Cardinal Health from $183.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.46.

Insider Transactions at Cardinal Health

In other news, CEO Jason M. Hollar sold 35,901 shares of the firm’s 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 transaction, the chief executive officer owned 200,000 shares of the company’s stock, valued at approximately $30,008,000. This trade represents a 15.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.12% of the stock is currently owned by corporate insiders.

Cardinal Health Trading Up 0.4%

Cardinal Health stock opened at $206.25 on Tuesday. The stock has a fifty day moving average price of $166.70 and a 200 day moving average price of $159.64. Cardinal Health, Inc. has a 52 week low of $114.60 and a 52 week high of $208.32. The firm has a market capitalization of $49.00 billion, a P/E ratio of 31.98, a PEG ratio of 1.39 and a beta of 0.72.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

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

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.