Beacon Pointe Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,488 shares of the company's stock, valued at approximately $2,016,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CAH. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health during the fourth quarter worth about $26,000. Bank of Jackson Hole Trust bought a new position in Cardinal Health during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp raised its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after buying an additional 14,034 shares during the last quarter. Palladiem LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $28,000. Finally, Indiana Trust & Investment Management Co bought a new position in shares of Cardinal Health in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 87.17% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on CAH shares. TD Cowen upped their target price on Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Barclays increased their price target on Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Morgan Stanley boosted their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $266.56.
Get Our Latest Analysis on CAH
Insider Activity
In other news, CEO Jason M. Hollar sold 80,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the transaction, the chief executive officer owned 235,132 shares in the company, valued at $55,430,017.68. The trade was a 25.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. The trade was a 8.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 210,271 shares of company stock worth $49,626,657. Corporate insiders own 0.12% of the company's stock.
Cardinal Health Stock Up 0.1%
CAH stock opened at $234.72 on Monday. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The stock's 50 day moving average is $233.10 and its 200-day moving average is $218.37. The firm has a market capitalization of $54.59 billion, a PE ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49.
Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $63.67 billion for the quarter, compared to analysts' expectations of $65.15 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Cardinal Health'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. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.
Cardinal Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is 28.49%.
Cardinal Health Company Profile
(
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.
Read More
Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Cardinal Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cardinal Health wasn't on the list.
While Cardinal Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Get This Free Report
