HighTower Advisors LLC Has $22.31 Million Stock Holdings in Cardinal Health, Inc. $CAH

Key Points

• HighTower Advisors increased its Cardinal Health stake by 18.6% in the second quarter, bringing its holdings to 93,896 shares valued at approximately $22.31 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive on CAH, with 16 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $266.56.
• Cardinal Health beat quarterly EPS estimates, reporting $2.91 versus the $2.42 consensus, while revenue rose 5.8% year over year to $63.67 billion. The company also declared a quarterly dividend of $0.5158 per share, a 0.9% annualized yield.

HighTower Advisors LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,896 shares of the company's stock after acquiring an additional 14,750 shares during the period. HighTower Advisors LLC's holdings in Cardinal Health were worth $22,306,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAH. CYBER HORNET ETFs LLC lifted its holdings in shares of Cardinal Health by 430.2% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 3,462 shares of the company's stock worth $822,000 after acquiring an additional 2,809 shares during the period. California State Teachers Retirement System boosted its holdings in Cardinal Health by 22,881.2% during the second quarter. California State Teachers Retirement System now owns 85,193,767 shares of the company's stock valued at $20,238,631,000 after purchasing an additional 84,823,056 shares in the last quarter. Nilsine Partners LLC boosted its holdings in Cardinal Health by 437.7% during the second quarter. Nilsine Partners LLC now owns 6,049 shares of the company's stock valued at $1,437,000 after purchasing an additional 4,924 shares in the last quarter. Saudi Central Bank lifted its position in shares of Cardinal Health by 87.8% during the 2nd quarter. Saudi Central Bank now owns 16,472 shares of the company's stock worth $3,913,000 after buying an additional 7,702 shares during the period. Finally, Compass Financial Management LLC acquired a new position in Cardinal Health during the second quarter worth $1,526,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent analyst reports. Leerink Partners set a $292.00 target price on shares of Cardinal Health in a research report on Tuesday, August 11th. TD Cowen upped their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Bank of America lifted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Wells Fargo & Company boosted their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Finally, Zacks Research downgraded Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus target price of $266.56.

Cardinal Health Stock Down 2.9%

Shares of CAH stock opened at $239.90 on Wednesday. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 1.49 and a beta of 0.51. The stock has a 50-day moving average price of $234.48 and a 200 day moving average price of $219.43.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter last year, the firm earned $2.08 EPS. The company'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. Sell-side analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share 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. Shareholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. 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 presently 28.49%.

Insider Buying and Selling

In other news, insider Michelle Greene sold 11,650 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Mayer sold 29,436 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the sale, the insider directly owned 33,076 shares of the company's stock, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 210,271 shares of company stock worth $49,626,657 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

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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