Cardinal Health, Inc. $CAH Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Cardinal Health by 4.0%, owning 114,198 shares valued at approximately $19.19 million as per the latest SEC filing.
• Research analysts have given Cardinal Health an average rating of "Moderate Buy" with a target price of $166.00, indicating positive investor sentiment.
• Insiders, including Jessica L. Mayer, sold significant portions of their shares recently, with total sales amounting to approximately $40.49 million over the last ninety days.

KLP Kapitalforvaltning AS grew its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,198 shares of the company's stock after purchasing an additional 4,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Cardinal Health were worth $19,185,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CAH. Wellington Management Group LLP lifted its stake in Cardinal Health by 1,666.7% during the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after purchasing an additional 2,249,241 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its stake in Cardinal Health by 4,935.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company's stock worth $130,434,000 after purchasing an additional 927,950 shares in the last quarter. Nuveen LLC acquired a new position in Cardinal Health during the first quarter worth $106,065,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Cardinal Health during the first quarter worth $104,951,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup restated a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a research note on Tuesday, August 12th. Robert W. Baird increased their price objective on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Evercore ISI reduced their price objective on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. Finally, Argus set a $189.00 price objective on Cardinal Health in a research note on Friday, August 22nd. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average target price of $166.00.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 38,078 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider owned 48,457 shares of the company's stock, valued at $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares in the company, valued at approximately $2,298,293.14. The trade was a 64.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock valued at $40,489,525 over the last ninety days. Company insiders own 0.12% of the company's stock.

Cardinal Health Price Performance

NYSE:CAH opened at $157.77 on Thursday. The firm has a market capitalization of $37.48 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.32 and a beta of 0.71. The business's fifty day moving average price is $152.03 and its 200 day moving average price is $150.75. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion for 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 revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

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

Cardinal Health Profile

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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