Cardinal Health, Inc. $CAH Position Decreased by Park National Corp OH

Key Points

• Park National Corp OH reduced its Cardinal Health position by 8.1% in the third quarter, selling 4,578 shares and retaining 52,115 shares valued at approximately $11.6 million. Institutional investors collectively own 87.17% of CAH.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates by $0.49, while revenue rose 5.8% year over year to $63.67 billion. The company issued fiscal 2027 EPS guidance of $12.40–$12.60.
• Shares recently traded at $232.90, while analysts maintain a “Moderate Buy” consensus with an average price target of $266.56. Cardinal Health also declared a quarterly dividend of $0.5158 per share, equivalent to a 0.9% annualized yield.

Park National Corp OH trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,115 shares of the company's stock after selling 4,578 shares during the quarter. Park National Corp OH's holdings in Cardinal Health were worth $11,596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. BlackRock Inc. acquired a new position in Cardinal Health during the second quarter worth $6,293,115,000. Wellington Management Group LLP lifted its holdings in Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company's stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares during the period. Bank of America Corp DE purchased a new stake in shares of Cardinal Health during the 2nd quarter worth $689,066,000. Legal & General Group Plc purchased a new stake in shares of Cardinal Health during the 2nd quarter worth $438,870,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Cardinal Health during the 2nd quarter worth $308,640,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, CAO Mary C. Scherer sold 2,302 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the completion of the sale, the chief accounting officer owned 2,811 shares of the company's stock, valued at approximately $667,303.29. The trade was a 45.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the firm's stock in a transaction dated 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 approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Stock Performance

Cardinal Health stock traded up $4.60 during trading on Monday, hitting $232.90. The company's stock had a trading volume of 518,648 shares, compared to its average volume of 1,978,612. The stock has a market capitalization of $53.93 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 1.37 and a beta of 0.50. The stock's fifty day moving average is $233.02 and its 200 day moving average is $220.11. Cardinal Health, Inc. has a 1-year low of $151.87 and a 1-year high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same period last year, the company earned $2.08 EPS. The firm'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, research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAH shares. Bank of America upped their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Evercore reissued an "outperform" rating and set a $270.00 price target on shares of Cardinal Health in a research note on Wednesday, August 12th. Weiss Ratings cut Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Barclays raised their price objective on Cardinal Health from $258.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Finally, Wells Fargo & Company lifted their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $266.56.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.

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