Cardinal Health, Inc. $CAH Shares Bought by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC increased its stake in Cardinal Health by 28.7%, owning a total of 8,592 shares worth approximately $1.44 million after acquiring 1,918 additional shares.
• Analysts have shown strong support for Cardinal Health, with twelve analysts rating the stock as a Buy and a boost in price targets from firms such as Leerink Partners and Wells Fargo & Company.
• Insider transactions reveal significant sales, with notable insiders selling a combined total of 66,229 shares, resulting in a decrease in their ownership of the stock.

DAVENPORT & Co LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 28.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,592 shares of the company's stock after purchasing an additional 1,918 shares during the quarter. DAVENPORT & Co LLC's holdings in Cardinal Health were worth $1,443,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Greykasell Wealth Strategies Inc. acquired a new position in shares of Cardinal Health during the first quarter worth about $26,000. GW&K Investment Management LLC lifted its stake in shares of Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after purchasing an additional 144 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Cardinal Health during the first quarter worth about $48,000. Zions Bancorporation National Association UT acquired a new position in shares of Cardinal Health in the first quarter worth about $52,000. Finally, Garde Capital Inc. acquired a new position in shares of Cardinal Health in the first quarter worth about $52,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Cardinal Health in a research note on Wednesday. Leerink Partners boosted their price target on Cardinal Health from $186.00 to $187.00 and gave the stock an "outperform" rating in a research note on Monday. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Finally, Argus set a $189.00 price target on Cardinal Health in a research note on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $166.00.

Insider Activity at Cardinal Health

In other news, insider Ola M. Snow sold 28,151 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider directly owned 15,431 shares of the company's stock, valued at approximately $2,298,293.14. This represents a 64.59% 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 the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider directly owned 48,457 shares of the company's stock, valued at $7,211,370.74. This trade represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is owned by insiders.

Cardinal Health Stock Down 0.3%

Shares of Cardinal Health stock opened at $157.24 on Friday. The firm has a market cap of $37.36 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.33 and a beta of 0.71. Cardinal Health, Inc. has a fifty-two week low of $106.98 and a fifty-two week high of $168.44. The business has a 50-day moving average price of $152.07 and a 200 day moving average price of $150.92.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.Cardinal Health's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. Cardinal Health's dividend payout ratio is 31.63%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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