Cardinal Health, Inc. $CAH Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Cardinal Health stake by 237.1% in the third quarter, bringing its holdings to 9,900 shares valued at approximately $2.2 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds. Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $266.56.
• Cardinal Health reported quarterly EPS of $2.91, exceeding expectations of $2.42, while revenue rose 5.8% year over year. The company also declared a quarterly dividend of $0.5158 per share, yielding about 0.8% annually.

First Citizens Bank & Trust Co. boosted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 237.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,900 shares of the company's stock after purchasing an additional 6,963 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Cardinal Health were worth $2,203,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Focus Financial Network Inc. boosted its position in shares of Cardinal Health by 10.7% during the 3rd quarter. Focus Financial Network Inc. now owns 993 shares of the company's stock worth $221,000 after purchasing an additional 96 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Cardinal Health by 15.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,196 shares of the company's stock valued at $711,000 after acquiring an additional 421 shares during the period. Krilogy Financial LLC lifted its holdings in shares of Cardinal Health by 151.4% during the 3rd quarter. Krilogy Financial LLC now owns 5,795 shares of the company's stock valued at $1,289,000 after acquiring an additional 3,490 shares in the last quarter. RHS Financial LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at about $271,000. Finally, Courier Capital LLC raised its stake in shares of Cardinal Health by 100.0% during the third quarter. Courier Capital LLC now owns 4,280 shares of the company's stock valued at $952,000 after purchasing an additional 2,140 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Insiders Place Their Bets

In other Cardinal Health news, CEO Jason M. Hollar sold 44,529 shares of Cardinal Health stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the sale, the chief executive officer owned 190,603 shares of the company's stock, valued at $45,016,616.54. This trade represents a 18.94% 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 the business's 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 owned 77,901 shares in the company, valued at $18,341,790.45. The trade was a 8.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock worth $49,626,657 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Citigroup raised their target price on Cardinal Health from $265.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings raised Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Mizuho upped their price target on Cardinal Health from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Finally, Bank of America increased their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $266.56.

Cardinal Health Stock Performance

NYSE:CAH opened at $247.32 on Thursday. Cardinal Health, Inc. has a 52 week low of $152.46 and a 52 week high of $258.30. The company has a market capitalization of $57.27 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.44 and a beta of 0.50. The company has a 50-day moving average of $233.88 and a 200-day moving average of $221.67.

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, beating the consensus estimate of $2.42 by $0.49. The company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The company 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 $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health's dividend payout ratio is presently 28.49%.

Cardinal Health Profile

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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