Transamerica Financial Advisors LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,315 shares of the company's stock, valued at approximately $7,202,000.
Other large investors also recently added to or reduced their stakes in the company. LWM Advisors Inc. lifted its holdings in shares of Cardinal Health by 4.4% in the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock worth $244,000 after buying an additional 43 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Cardinal Health by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after acquiring an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company's stock valued at $1,184,000 after acquiring an additional 50 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Cardinal Health by 2.6% in the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock valued at $423,000 after acquiring an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in Cardinal Health by 11.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company's stock worth $105,000 after purchasing an additional 51 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Cardinal Health
In other news, CEO Stephen M. Mason sold 35,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the sale, the chief executive officer owned 18,061 shares of the company's stock, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares of the company's stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 210,271 shares of company stock valued at $49,626,657 over the last three months. Corporate insiders own 0.12% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CAH. UBS Group raised their price objective on Cardinal Health from $274.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Mizuho boosted their target price on Cardinal Health from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Royal Bank Of Canada started coverage on Cardinal Health in a report on Wednesday, August 19th. They set an "outperform" rating and a $276.00 price target for the company. Weiss Ratings downgraded Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Finally, Barclays upped their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $266.56.
Get Our Latest Report on Cardinal Health
Cardinal Health Trading Up 0.3%
CAH opened at $238.61 on Thursday. The firm has a market cap of $55.50 billion, a P/E ratio of 33.00, a P/E/G ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The stock has a 50-day moving average of $232.59 and a 200 day moving average of $218.25.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.
Cardinal Health Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is currently 28.49%.
Cardinal Health Company Profile
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Free Report)
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.
See Also
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