Birmingham Capital Management Co. Inc. AL Invests $1.50 Million in Cardinal Health, Inc. $CAH

Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,300 shares of the company's stock, valued at approximately $1,497,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Global Advisors LLC acquired a new position in Cardinal Health during the 2nd quarter valued at about $2,849,000. Windsor Advisory Group LLC bought a new stake in shares of Cardinal Health during the 2nd quarter worth about $606,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $63,073,000. Man Group plc bought a new position in shares of Cardinal Health in the second quarter valued at approximately $222,013,000. Finally, First Bancorp Inc ME bought a new position in shares of Cardinal Health in the second quarter valued at approximately $89,000. 87.17% of the stock is currently owned by institutional investors.

Insider Activity at Cardinal Health

In other news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer directly owned 77,901 shares of the company's stock, valued at $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen M. Mason sold 35,000 shares of the firm's stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company's stock.

Cardinal Health Stock Up 0.3%

Shares of NYSE:CAH opened at $238.61 on Thursday. The company's fifty day moving average is $232.59 and its two-hundred day moving average is $218.25. The company has a market cap of $55.50 billion, a P/E ratio of 33.00, a price-to-earnings-growth 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.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its 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. 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 analysts' expectations of $65.15 billion. During the same quarter last year, the firm posted $2.08 earnings per share. Cardinal Health's 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 research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm 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. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health's payout ratio is 28.49%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAH. Evercore reissued an "outperform" rating and set a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Barclays boosted their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Leerink Partners set a $292.00 price objective on Cardinal Health in a report on Tuesday, August 11th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Finally, UBS Group lifted their target price on Cardinal Health from $274.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $266.56.

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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