Alyeska Investment Group L.P. Lowers Holdings in Cardinal Health, Inc. $CAH

Key Points

• Alyeska Investment Group cut its Cardinal Health stake by 97.7% in the second quarter, selling 294,050 shares and retaining 7,074 shares valued at approximately $1.68 million. Institutional investors overall own 87.17% of the company.
• Analysts remain broadly bullish, with 16 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $266.56. Cardinal Health recently beat quarterly EPS estimates, reporting $2.91 versus the expected $2.42, while revenue rose 5.8% year over year.
• Cardinal Health declared a quarterly dividend of $0.5158 per share, equivalent to $2.06 annually and a 0.9% yield. Shares opened at $239.25 and have traded between $145.87 and $258.30 over the past year.

Alyeska Investment Group L.P. decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 97.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,074 shares of the company's stock after selling 294,050 shares during the period. Alyeska Investment Group L.P.'s holdings in Cardinal Health were worth $1,680,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAH. BlackRock Inc. bought a new position in Cardinal Health in the second quarter valued at $6,293,115,000. Wellington Management Group LLP increased its holdings in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company's stock worth $3,530,206,000 after buying an additional 10,584,119 shares during the period. State Street Corp increased its holdings in shares of Cardinal Health by 1.8% in the fourth quarter. State Street Corp now owns 12,509,230 shares of the company's stock worth $2,570,647,000 after buying an additional 221,497 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock valued at $1,336,750,000 after acquiring an additional 43,924 shares during the last quarter. Finally, Norges Bank purchased a new stake in Cardinal Health during the 4th quarter valued at about $790,344,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the transaction, the insider owned 33,076 shares of the company's stock, valued at $7,812,220.44. The trade was a 47.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider 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. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. Zacks Research cut Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Citigroup increased their price objective on Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Bank of America lifted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, Barclays boosted their target price on Cardinal Health from $258.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $266.56.

Cardinal Health Stock Up 2.0%

CAH opened at $239.25 on Wednesday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The stock has a market cap of $55.64 billion, a PE ratio of 33.09, a PEG ratio of 1.41 and a beta of 0.51. The business has a 50 day moving average of $233.53 and a 200-day moving average of $218.58.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the company earned $2.08 earnings per share. The firm'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. Equities analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health's dividend payout ratio (DPR) is 28.49%.

Cardinal Health Profile

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.

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