Cardinal Health, Inc. $CAH Shares Bought by Algert Global LLC

Key Points

• Algert Global increased its Cardinal Health stake by 246.9% in the second quarter, ending with 36,993 shares valued at approximately $8.8 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health reported quarterly EPS of $2.91, exceeding estimates of $2.42, while revenue rose 5.8% year over year to $63.67 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $266.56.
• The company declared a quarterly dividend of $0.5158 per share, equivalent to an annualized $2.06 payout and a 0.9% yield. Meanwhile, insiders sold 210,271 shares worth roughly $49.6 million over the past 90 days.

Algert Global LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 246.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,993 shares of the company's stock after purchasing an additional 26,330 shares during the quarter. Algert Global LLC's holdings in Cardinal Health were worth $8,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC raised its holdings in Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock valued at $601,000 after buying an additional 280 shares during the period. Jones Financial Companies Lllp lifted its holdings in Cardinal Health by 198.3% in the 1st 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Cardinal Health in the 2nd quarter valued at about $1,935,000. Cerity Partners LLC grew its stake in shares of Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company's stock valued at $6,792,000 after acquiring an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC grew its stake in shares of Cardinal Health by 34.4% during the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company's stock valued at $1,736,000 after acquiring an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $238.61 on Thursday. The business's fifty day moving average is $232.59 and its 200-day moving average is $218.25. The stock has a market cap of $55.50 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business'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. Equities research analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Insider Buying and Selling at Cardinal Health

In related news, CEO Jason M. Hollar sold 80,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the transaction, the chief executive officer directly owned 235,132 shares of the company's stock, valued at approximately $55,430,017.68. The trade was a 25.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Company insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CAH shares. Morgan Stanley boosted their price target on Cardinal Health from $255.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Bank of America increased their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings cut shares of Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Zacks Research lowered shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. Finally, Mizuho upped their target price on Cardinal Health from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target 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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