Equitable Holdings Inc. Makes New $3.24 Million Investment in Cardinal Health, Inc. $CAH

Equitable Holdings Inc. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,642 shares of the company's stock, valued at approximately $3,241,000.

Several other hedge funds have also modified their holdings of the business. Investors Research Corp acquired a new position in Cardinal Health during the second quarter worth $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cardinal Health in the fourth quarter valued at $26,000. Allied Private Wealth LLC acquired a new stake in Cardinal Health in the second quarter valued at $30,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health during the 4th quarter worth $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health during the 1st quarter worth $29,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Down 1.4%

Shares of NYSE CAH opened at $235.01 on Friday. The stock has a market cap of $54.66 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The company's 50-day moving average price is $232.84 and its 200 day moving average price is $218.31.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results 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 analysts' expectations of $65.15 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The firm's quarterly 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, research analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Analysts Set New Price Targets

CAH has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Cardinal Health from $274.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a report on Wednesday, August 19th. They issued an "outperform" rating and a $276.00 target price for the company. TD Cowen lifted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Robert W. Baird boosted their price target on Cardinal Health from $251.00 to $274.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Finally, Bank of America upped their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Sixteen equities 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, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus price target of $266.56.

Insider Activity

In related news, CEO Stephen M. Mason sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total value of $8,274,000.00. Following the sale, the chief executive officer owned 18,061 shares of the company's stock, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 80,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total value of $18,859,200.00. Following the sale, the chief executive officer owned 235,132 shares in the company, valued at approximately $55,430,017.68. This trade represents a 25.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by corporate insiders.

About Cardinal Health

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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