Corient Private Wealth LP Has $18.37 Million Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Corient Private Wealth cut its Cardinal Health stake by 49.4% in the second quarter, selling 75,561 shares and retaining 77,322 shares worth approximately $18.37 million. Institutional investors collectively own 87.17% of the company.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates of $2.42, while revenue rose 5.8% year over year to $63.67 billion, below the $65.15 billion consensus estimate.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $266.56 price target versus the stock’s $234.86 opening price. The company also announced a quarterly dividend of $0.5158 per share, yielding about 0.9% annually.

Corient Private Wealth LP reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 49.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,322 shares of the company's stock after selling 75,561 shares during the quarter. Corient Private Wealth LP's holdings in Cardinal Health were worth $18,369,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Investors Research Corp acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $29,000. Allied Private Wealth LLC bought a new stake in shares of Cardinal Health during the second quarter worth $30,000. NBH Bank bought a new stake in shares of Cardinal Health during the second quarter worth $31,000. Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health during the first quarter worth $29,000. Finally, Palladiem LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth $28,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Up 0.1%

CAH stock opened at $234.86 on Tuesday. The firm has a market cap of $54.62 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.41 and a beta of 0.51. The company's fifty day simple moving average is $234.33 and its 200 day simple moving average is $219.77. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the business earned $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. Research analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health's payout ratio is currently 28.49%.

Analysts Set New Price Targets

Several research firms recently weighed in on CAH. TD Cowen raised their price objective on Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Mizuho upped their target price on Cardinal Health from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Leerink Partners set a $292.00 price target on Cardinal Health in a research note on Tuesday, August 11th. Barclays boosted their price target on Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Finally, Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.56.

Insider Activity at Cardinal Health

In related news, CEO Stephen Mason sold 35,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the transaction, the chief executive officer directly owned 18,061 shares of the company's stock, valued at $4,269,620.40. This represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason Hollar sold 80,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the sale, the chief executive officer owned 235,132 shares of the company's stock, valued at $55,430,017.68. The trade was a 25.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock worth $49,626,657 over the last ninety days. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.

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