UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Cardinal Health, Inc. $CAH

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.2% in the second quarter, Holdings Channel.com reports. The fund owned 2,224,578 shares of the company’s stock after selling 97,860 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cardinal Health were worth $528,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC increased its holdings in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Cardinal Health in the 2nd quarter valued at $1,935,000. Cerity Partners LLC grew its holdings in Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after buying an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC increased its stake in shares of Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after acquiring an additional 2,646 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CAH. Bank of America raised their target price on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Citigroup increased their price target on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Morgan Stanley upped their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 target price on shares of Cardinal Health in a research note on Tuesday, August 11th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $234.72 on Monday. The stock’s 50-day simple moving average is $233.10 and its 200-day simple moving average is $218.37. The firm has a market capitalization of $54.59 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Cardinal Health’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is presently 28.49%.

Insiders Place Their Bets

In related news, CEO Deborah Weitzman sold 7,354 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at $18,341,790.45. This trade represents a 8.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of Cardinal Health stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the transaction, the chief executive officer directly owned 190,603 shares of the company’s stock, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. Corporate insiders own 0.12% of the company’s stock.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.