IFP Advisors Inc Buys 6,695 Shares of Cardinal Health, Inc. $CAH

Key Points

• IFP Advisors increased its Cardinal Health stake by 73% in the third quarter, acquiring 6,695 additional shares for a total holding of 15,871 shares valued at approximately $3.53 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly bullish, with 16 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $267.50.
• 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 also declared a quarterly dividend of $0.5158 per share, equivalent to a 0.8% yield.

IFP Advisors Inc boosted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 73.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,871 shares of the company's stock after acquiring an additional 6,695 shares during the period. IFP Advisors Inc's holdings in Cardinal Health were worth $3,531,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC grew its holdings in shares of Cardinal Health by 32.9% during the third quarter. Counterpoint Mutual Funds LLC now owns 42,485 shares of the company's stock valued at $9,453,000 after purchasing an additional 10,528 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $348,000. Kintegral Advisory LLC raised its holdings in shares of Cardinal Health by 349.4% during the third quarter. Kintegral Advisory LLC now owns 21,634 shares of the company's stock valued at $4,814,000 after buying an additional 16,820 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Cardinal Health by 1,299.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 932,746 shares of the company's stock valued at $207,536,000 after acquiring an additional 866,089 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Cardinal Health by 119.1% during the third quarter. TD Waterhouse Canada Inc. now owns 86,763 shares of the company's stock valued at $19,305,000 after purchasing an additional 47,171 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho increased their price target on Cardinal Health from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Wells Fargo & Company upped their price target on shares of 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 cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Citigroup upped their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Robert W. Baird boosted their target price on Cardinal Health from $251.00 to $274.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus target price of $267.50.

Insider Buying and Selling at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of the business'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 owned 2,811 shares in the company, valued at $667,303.29. The trade was a 45.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock valued at $49,626,657 over the last three months. Insiders own 0.12% of the company's stock.

Cardinal Health Stock Performance

Shares of CAH opened at $253.16 on Tuesday. The company has a 50-day simple moving average of $234.87 and a 200-day simple moving average of $222.63. Cardinal Health, Inc. has a 52 week low of $155.84 and a 52 week high of $258.30. The firm has a market capitalization of $58.62 billion, a P/E ratio of 35.02, a P/E/G ratio of 1.53 and a beta of 0.50.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 business had revenue of $63.67 billion for the quarter, compared to analysts' expectations of $65.15 billion. During the same period in the previous year, the business posted $2.08 earnings per share. 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, equities analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health's dividend payout ratio is 28.49%.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.

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