Envestnet Portfolio Solutions Inc. Purchases 7,553 Shares of Cardinal Health, Inc. $CAH

Key Points

• Envestnet Portfolio Solutions increased its Cardinal Health stake by 73.1% in the second quarter, purchasing 7,553 shares to reach 17,879 shares valued at approximately $4.25 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. The company reaffirmed fiscal 2027 EPS guidance of $12.40–$12.60.
• The company declared a quarterly dividend of $0.5158, equivalent to a 0.9% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $266.56, above the reported share price of $220.12.

Envestnet Portfolio Solutions Inc. lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 73.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,879 shares of the company's stock after buying an additional 7,553 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cardinal Health were worth $4,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Cardinal Health in the second quarter valued at about $6,293,115,000. Wellington Management Group LLP raised its stake in shares of Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company's stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company's stock worth $1,336,750,000 after acquiring an additional 43,924 shares during the last quarter. Norges Bank acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $790,344,000. Finally, Bank of America Corp DE purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $689,066,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

NYSE:CAH opened at $220.12 on Friday. The firm's fifty day moving average price is $233.05 and its 200 day moving average price is $219.85. Cardinal Health, Inc. has a 1-year low of $149.60 and a 1-year high of $258.30. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.34 and a beta of 0.51.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 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 quarter in the prior year, the firm earned $2.08 EPS. Cardinal Health's quarterly revenue 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, analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

Analysts Set New Price Targets

CAH has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Cardinal Health from $245.00 to $277.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 19th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. UBS Group boosted their price objective on Cardinal Health from $274.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada started coverage on Cardinal Health in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $276.00 price target on the stock. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $266.56.

Insider Buying and Selling

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mary C. Scherer sold 2,302 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at approximately $667,303.29. This trade represents a 45.02% 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 valued at $49,626,657 in the last quarter. Corporate insiders own 0.12% of the company's stock.

About Cardinal Health

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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