Cardinal Health, Inc. $CAH Stock Purchased by NFSG Corp

Key Points

• NFSG Corp dramatically increased its Cardinal Health stake by 85,325% in the third quarter, purchasing 6,826 additional shares for a total holding valued at approximately $1.45 million. Institutional investors collectively own 87.17% of the stock.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $266.56.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates by $0.49, while revenue rose 5.8% year over year. Shares opened at $253.44, near their 52-week high, and the company maintains a quarterly dividend of $0.5158 per share.

NFSG Corp boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 85,325.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,834 shares of the company's stock after purchasing an additional 6,826 shares during the period. NFSG Corp's holdings in Cardinal Health were worth $1,449,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. LWM Advisors Inc. boosted its holdings in shares of Cardinal Health by 4.4% in the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock valued at $244,000 after buying an additional 43 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Cardinal Health by 2.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company's stock valued at $426,000 after buying an additional 43 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in Cardinal Health by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock worth $896,000 after buying an additional 49 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Cardinal Health by 2.6% during the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock worth $423,000 after buying an additional 50 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in Cardinal Health by 4.5% during the first quarter. Gryphon Financial Partners LLC now owns 1,239 shares of the company's stock worth $262,000 after buying an additional 53 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAH has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Cardinal Health from $251.00 to $274.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. TD Cowen boosted their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. Finally, Evercore reiterated an "outperform" rating and issued a $270.00 target price on shares of Cardinal Health in a research note on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.56.

Insider Transactions at Cardinal Health

In other news, CEO Deborah Weitzman sold 7,354 shares of the business'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 in the company, valued at $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the company'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 value of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. The trade was a 53.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $253.44 on Friday. The business has a fifty day simple moving average of $234.20 and a two-hundred day simple moving average of $222.00. Cardinal Health, Inc. has a 1 year low of $152.46 and a 1 year high of $258.30. The company has a market capitalization of $58.69 billion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 1.49 and a beta of 0.50.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share 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 analyst estimates 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 was up 5.8% on a year-over-year basis. During the same period 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, equities analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders 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 of this dividend was Thursday, October 1st. Cardinal Health's dividend payout ratio is currently 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.

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