Baird Financial Group Inc. Raises Holdings in Cardinal Health, Inc. $CAH

Key Points

• Baird Financial Group increased its Cardinal Health stake by 9.3% in the second quarter to 107,377 shares valued at approximately $25.5 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health reported quarterly EPS of $2.91, exceeding analyst expectations of $2.42, while revenue rose 5.8% year over year to $63.67 billion, below the $65.15 billion consensus estimate.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $266.56. The company also declared a quarterly dividend of $0.5158 per share, representing an annualized yield of about 0.9%.

Baird Financial Group Inc. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,377 shares of the company's stock after acquiring an additional 9,101 shares during the quarter. Baird Financial Group Inc.'s holdings in Cardinal Health were worth $25,508,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CAH. Bank of New York Mellon Corp acquired a new position in shares of Cardinal Health during the second quarter valued at approximately $308,640,000. First Nebraska Trust Co acquired a new stake in shares of Cardinal Health in the second quarter worth approximately $20,050,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of Cardinal Health during the second quarter worth approximately $1,177,000. Stack Financial Management Inc acquired a new position in Cardinal Health in the 2nd quarter valued at $24,681,000. Finally, Ceredex Value Advisors LLC purchased a new position in Cardinal Health in the 2nd quarter valued at $28,246,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

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 stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer directly owned 18,061 shares in the company, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the business'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 completion of the sale, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock valued at $49,626,657 over the last ninety days. Corporate insiders own 0.12% of the company's stock.

Cardinal Health Stock Down 1.7%

Shares of NYSE:CAH opened at $235.96 on Friday. The business has a fifty day moving average of $234.47 and a two-hundred day moving average of $219.63. The stock has a market cap of $54.88 billion, a P/E ratio of 32.64, a PEG ratio of 1.44 and a beta of 0.51. Cardinal Health, Inc. has a 52-week low of $145.87 and a 52-week high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.42 by $0.49. The business had revenue of $63.67 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Analysts Set New Price Targets

CAH has been the topic of several recent research reports. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. TD Cowen increased their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Zacks Research downgraded shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. UBS Group boosted their price target on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Citigroup upped their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $266.56.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.

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