Birch Capital Management LLC Sells 1,609 Shares of Cardinal Health, Inc. $CAH

by · The Markets Daily

Birch Capital Management LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 5.7% in the second quarter, Holdings Channel reports. The firm owned 26,781 shares of the company’s stock after selling 1,609 shares during the quarter. Cardinal Health accounts for about 2.3% of Birch Capital Management LLC’s portfolio, making the stock its 17th biggest position. Birch Capital Management LLC’s holdings in Cardinal Health were worth $4,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Total Wealth Planning & Management Inc. increased its holdings in shares of Cardinal Health by 231.0% in the 2nd quarter. Total Wealth Planning & Management Inc. now owns 15,900 shares of the company’s stock worth $2,671,000 after purchasing an additional 11,096 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Cardinal Health in the 2nd quarter worth $756,000. Blair William & Co. IL boosted its stake in shares of Cardinal Health by 80.2% in the 2nd quarter. Blair William & Co. IL now owns 20,968 shares of the company’s stock worth $3,523,000 after buying an additional 9,333 shares during the last quarter. Columbus Macro LLC boosted its stake in shares of Cardinal Health by 1.0% in the 2nd quarter. Columbus Macro LLC now owns 18,013 shares of the company’s stock worth $3,026,000 after buying an additional 187 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Cardinal Health by 3.1% in the 2nd quarter. Maryland State Retirement & Pension System now owns 11,739 shares of the company’s stock worth $1,972,000 after buying an additional 354 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ola M. Snow sold 28,151 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the completion of the transaction, the insider owned 48,457 shares in the company, valued at $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,676 shares of company stock valued at $40,489,525. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup restated a “neutral” rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Evercore ISI dropped their price target on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a research note on Tuesday, August 12th. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company restated an “overweight” rating and issued 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Check Out Our Latest Report on Cardinal Health

Cardinal Health Stock Performance

NYSE CAH opened at $157.24 on Friday. The company has a market capitalization of $37.36 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. The business’s fifty day moving average is $152.07 and its 200 day moving average is $150.92. Cardinal Health, Inc. has a fifty-two week low of $106.98 and a fifty-two week high of $168.44.

Cardinal Health (NYSE:CAH – Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.Cardinal Health’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.5107 dividend. 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 presently 31.63%.

Cardinal Health Company Profile

(Free Report)

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.

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