Cardinal Health, Inc. $CAH Shares Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors reduced its Cardinal Health stake by 4.7%, selling 38,666 shares and retaining 791,386 shares valued at approximately $176.1 million. Institutional investors collectively own 87.17% of the company.
• Analyst sentiment remains positive: 16 analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $270.69.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates by $0.49, while revenue rose 5.8% year over year. Insiders sold $49.6 million worth of shares during the latest quarter, and the company maintains a $2.06 annualized dividend.

ProShare Advisors LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 791,386 shares of the company's stock after selling 38,666 shares during the period. ProShare Advisors LLC owned about 0.34% of Cardinal Health worth $176,083,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on CAH shares. Citigroup raised their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on Cardinal Health in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $276.00 target price on the stock. Evercore reaffirmed an "outperform" rating and set a $270.00 price objective on shares of Cardinal Health in a research report on Wednesday, August 12th. Morgan Stanley increased their price target on Cardinal Health from $265.00 to $286.00 and gave the company an "overweight" rating in a report on Friday. Finally, UBS Group raised their target price on shares of Cardinal Health from $280.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, October 16th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $270.69.

Insider Buying and Selling

In other news, insider Michelle Greene sold 11,650 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the sale, the insider owned 10,330 shares of the company's stock, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jason Hollar sold 80,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total value of $18,859,200.00. Following the completion of the transaction, the chief executive officer directly owned 235,132 shares in the company, valued at $55,430,017.68. The trade was a 25.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company's stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $250.41 on Friday. Cardinal Health, Inc. has a 1 year low of $180.45 and a 1 year high of $259.84. The firm has a market cap of $57.98 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.51 and a beta of 0.50. The stock's 50-day moving average is $237.74 and its two-hundred day moving average is $222.29.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (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 company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.5158 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. Cardinal Health's dividend payout ratio (DPR) is presently 28.49%.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.

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