Canada Pension Plan Investment Board bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 253,886 shares of the company's stock, valued at approximately $60,313,000. Canada Pension Plan Investment Board owned about 0.11% of Cardinal Health at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. BlackRock Inc. purchased a new position in shares of Cardinal Health in the second quarter valued at $6,293,115,000. State Street Corp raised its stake in Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company's stock valued at $2,570,647,000 after purchasing an additional 221,497 shares in the last quarter. Geode Capital Management LLC lifted its position in Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock valued at $1,336,750,000 after purchasing an additional 43,924 shares during the last quarter. Wellington Management Group LLP lifted its position in Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Cardinal Health in the 4th quarter worth $790,344,000. 87.17% of the stock is owned by institutional investors.
Insider Activity
In other Cardinal Health news, insider Michelle D. Greene sold 11,650 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction 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 sale, the chief executive officer directly owned 77,901 shares of the company's stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company's stock.
Cardinal Health Stock Down 1.4%
CAH stock opened at $235.01 on Friday. The business's fifty day simple moving average is $232.84 and its two-hundred day simple moving average is $218.31. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The firm has a market cap of $54.66 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.43 and a beta of 0.49.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The business's 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. Research analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current year.
Cardinal Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given 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 dividend yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is 28.49%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CAH shares. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. UBS Group boosted their price objective on Cardinal Health from $274.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Leerink Partners set a $292.00 price objective on Cardinal Health in a research report on Tuesday, August 11th. Royal Bank Of Canada began coverage on Cardinal Health in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $276.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $266.56.
Read Our Latest Research Report on Cardinal Health
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.
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