Corient Private Wealth LP Purchases New Stake in Cardinal Health, Inc. $CAH

Key Points

• Corient Private Wealth acquired 83,760 shares of Cardinal Health in the second quarter, valued at approximately $19.9 million. Institutional investors and hedge funds collectively own 87.17% of the company.
• Cardinal Health exceeded quarterly earnings expectations, reporting $2.91 EPS versus the $2.42 consensus, while revenue rose 5.8% year over year to $63.67 billion. The company issued fiscal 2027 EPS guidance of $12.40–$12.60.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $266.56 average price target versus the stock’s reported price of $234.72. Cardinal Health also declared a quarterly dividend of $0.5158 per share.

Corient Private Wealth LP acquired a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 83,760 shares of the company's stock, valued at approximately $19,897,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Cardinal Health in the second quarter valued at approximately $308,640,000. Kornitzer Capital Management Inc. KS grew its stake in Cardinal Health by 100.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company's stock valued at $3,733,000 after purchasing an additional 9,120 shares during the period. First Nebraska Trust Co bought a new position in Cardinal Health in the 2nd quarter valued at $20,050,000. Byrne Financial Freedom LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $1,574,000. Finally, Belleair Asset Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $1,100,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Mary C. Scherer sold 2,302 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the transaction, the chief accounting officer directly owned 2,811 shares of the company's stock, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of Cardinal Health 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 transaction, the insider owned 10,330 shares of the company's stock, valued at $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $234.72 on Friday. The stock has a market capitalization of $54.59 billion, a PE ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $145.87 and a one year high of $258.30. The business's fifty day moving average price is $233.10 and its 200-day moving average price is $218.42.

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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $65.15 billion. During the same quarter last year, the firm posted $2.08 EPS. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) is presently 28.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CAH. TD Cowen boosted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Citigroup raised their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Zacks Research lowered shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley increased their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $266.56.

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.

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