Compass Financial Management LLC Makes New $1.53 Million Investment in Cardinal Health, Inc. $CAH

Key Points

• Compass Financial Management initiated a $1.53 million position in Cardinal Health by purchasing 6,502 shares during the second quarter. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds, producing a “Moderate Buy” consensus 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 to $63.67 billion. The company also declared a $0.5158 quarterly dividend, representing a 0.8% yield.

Compass Financial Management LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,502 shares of the company's stock, valued at approximately $1,526,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBH Bank purchased a new position in Cardinal Health in the 2nd quarter valued at approximately $31,000. AlphaGrep UK Ltd bought a new stake in Cardinal Health during the 2nd quarter valued at $709,000. Turner Financial Group Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth $578,000. Three Seasons Wealth LLC lifted its position in shares of Cardinal Health by 67.5% during the second quarter. Three Seasons Wealth LLC now owns 7,481 shares of the company's stock worth $1,777,000 after acquiring an additional 3,015 shares in the last quarter. Finally, Raiffeisen Bank International AG boosted its holdings in shares of Cardinal Health by 1.7% in the second quarter. Raiffeisen Bank International AG now owns 6,363 shares of the company's stock worth $1,503,000 after acquiring an additional 105 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CAH shares. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday, August 11th. Morgan Stanley increased their price objective on Cardinal Health from $255.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Mizuho raised their target price on Cardinal Health from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Royal Bank Of Canada initiated coverage on Cardinal Health in a report on Wednesday, August 19th. They set an "outperform" rating and a $276.00 target price for the company. Finally, Wells Fargo & Company upped their price target on Cardinal Health from $245.00 to $277.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $266.56.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $246.67 on Friday. The company's fifty day moving average price is $234.23 and its 200-day moving average price is $219.18. The firm has a market capitalization of $57.37 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.49 and a beta of 0.51. Cardinal Health, Inc. has a one year low of $145.87 and a one year high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the firm posted $2.08 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health's payout ratio is 28.49%.

Insider Transactions at Cardinal Health

In other news, insider Michelle Greene sold 11,650 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was 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 approximately $2,434,987.60. This represents a 53.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica Mayer sold 29,436 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company's stock.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source