4,634 Cardinal Health, Inc. $CAH Shares Acquired by Columbus Macro LLC

Key Points

• Columbus Macro LLC increased its Cardinal Health holdings by 11.7% in the third quarter, acquiring 4,634 shares and bringing its position to 44,074 shares valued at approximately $9.8 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health shares rose 3.2% to $247.32, while the company reported quarterly earnings of $2.91 per share, exceeding estimates of $2.42. Revenue increased 5.8% year over year, though it came in below analyst expectations.
• Analysts maintain a favorable outlook, with 16 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a $266.56 price target. Cardinal Health also declared a quarterly dividend of $0.5158 per share, representing a 0.8% annualized yield.

Columbus Macro LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 11.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,074 shares of the company's stock after acquiring an additional 4,634 shares during the quarter. Columbus Macro LLC's holdings in Cardinal Health were worth $9,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. LWM Advisors Inc. boosted its holdings in Cardinal Health by 4.4% in the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock valued at $244,000 after purchasing an additional 43 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Cardinal Health by 2.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company's stock valued at $426,000 after buying an additional 43 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Cardinal Health by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after buying an additional 49 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Cardinal Health by 2.6% during the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock valued at $423,000 after buying an additional 50 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of Cardinal Health by 4.5% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,239 shares of the company's stock valued at $262,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Up 3.2%

Shares of CAH stock traded up $7.60 during mid-day trading on Wednesday, hitting $247.32. 1,972,080 shares of the stock were exchanged, compared to its average volume of 1,962,192. The firm has a fifty day moving average of $233.72 and a 200 day moving average of $221.39. Cardinal Health, Inc. has a 52-week low of $152.46 and a 52-week high of $258.30. The company has a market cap of $57.27 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.43 and a beta of 0.50.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The firm had revenue of $63.67 billion for the quarter, compared to analysts' expectations of $65.15 billion. During the same period last year, the firm earned $2.08 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 0.8%. Cardinal Health's payout ratio is 28.49%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley upped their target price on Cardinal Health from $255.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. TD Cowen lifted their price target on Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Mizuho raised their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a report on Wednesday, August 19th. They set an "outperform" rating and a $276.00 target price for the company. Sixteen 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, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.56.

Insiders Place Their Bets

In other news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. This trade represents a 8.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the sale, the insider directly owned 33,076 shares in the company, valued at $7,812,220.44. This represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by insiders.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.

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