Cardinal Health, Inc. $CAH Stake Lifted by Vontobel Holding Ltd.

Key Points

• Vontobel Holding increased its Cardinal Health stake by 1,299.3% in the third quarter, adding 866,089 shares for a total of 932,746 shares valued at approximately $207.5 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $267.50. Recent target increases ranged from $250 to $292.
• Cardinal Health reported quarterly EPS of $2.91, exceeding expectations of $2.42, while revenue rose 5.8% year over year to $63.67 billion. The company also declared a quarterly dividend of $0.5158, representing an annualized yield of about 0.8%.

Vontobel Holding Ltd. boosted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1,299.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 932,746 shares of the company's stock after buying an additional 866,089 shares during the quarter. Cardinal Health makes up about 0.7% of Vontobel Holding Ltd.'s investment portfolio, making the stock its 27th biggest holding. Vontobel Holding Ltd. owned approximately 0.40% of Cardinal Health worth $207,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. LWM Advisors Inc. boosted its position in shares of Cardinal Health by 4.4% during the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock worth $244,000 after buying an additional 43 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Cardinal Health by 2.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company's stock worth $426,000 after buying an additional 43 shares in the last quarter. Annex Advisory Services LLC raised its position in Cardinal Health by 1.5% in the third quarter. Annex Advisory Services LLC now owns 2,914 shares of the company's stock worth $648,000 after acquiring an additional 44 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in shares of Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after buying an additional 49 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Cardinal Health by 2.6% in the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock valued at $423,000 after purchasing an additional 50 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company's stock, valued at $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica Mayer sold 29,436 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the transaction, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

CAH has been the subject of a number of research analyst reports. Barclays increased their target price on Cardinal Health from $258.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Evercore reiterated an "outperform" rating and issued a $270.00 price objective on shares of Cardinal Health in a research note on Wednesday, August 12th. TD Cowen lifted their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Mizuho upped their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 price objective on Cardinal Health in a report on Tuesday, August 11th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $267.50.

Cardinal Health Stock Up 0.1%

CAH stock traded up $0.15 during trading hours on Friday, hitting $253.86. The company's stock had a trading volume of 1,336,496 shares, compared to its average volume of 1,856,656. The stock has a 50 day moving average price of $234.54 and a two-hundred day moving average price of $222.22. Cardinal Health, Inc. has a 12 month low of $152.46 and a 12 month high of $258.30. The company has a market capitalization of $58.78 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.50.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. The business 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%. Cardinal Health's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Cardinal Health Company 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.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.