Mn Services Vermogensbeheer B.V. Raises Position in Cardinal Health, Inc. $CAH

Key Points

• Mn Services Vermogensbeheer B.V. doubled its Cardinal Health stake in the third quarter, adding 70,128 shares to own 138,853 shares valued at approximately $30.9 million. Institutional investors collectively hold 87.17% of the company.
• Analysts maintain a generally positive outlook, with 16 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $266.56.
• Cardinal Health exceeded quarterly EPS expectations with $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, equivalent to a 0.9% annual yield.

Mn Services Vermogensbeheer B.V. increased its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 102.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,853 shares of the company's stock after purchasing an additional 70,128 shares during the quarter. Mn Services Vermogensbeheer B.V. owned 0.06% of Cardinal Health worth $30,895,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Cardinal Health in the second quarter valued at about $6,293,115,000. Wellington Management Group LLP grew its stake in shares of Cardinal Health by 247.5% during 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 purchasing an additional 10,584,119 shares during the period. Bank of America Corp DE purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $689,066,000. Victory Capital Management Inc. increased its position in shares of Cardinal Health by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,698,189 shares of the company's stock valued at $554,478,000 after purchasing an additional 414,074 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Cardinal Health in the 2nd quarter worth approximately $438,870,000. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the subject of several recent research reports. UBS Group boosted their target price on shares of Cardinal Health from $274.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Zacks Research cut shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 27th. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Finally, Citigroup raised their target price on Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.56.

Insider Buying and Selling at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total transaction of $546,471.78. Following the completion of the transaction, the chief accounting officer owned 2,811 shares in the company, valued at approximately $667,303.29. This represents a 45.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the transaction, the chief executive officer directly owned 190,603 shares of the company's stock, valued at $45,016,616.54. The trade was a 18.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company's stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $239.15 on Friday. Cardinal Health, Inc. has a fifty-two week low of $151.87 and a fifty-two week high of $258.30. The company has a market capitalization of $55.38 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.40 and a beta of 0.50. The company has a fifty day moving average of $233.39 and a 200 day moving average of $220.75.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 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 last year, the firm earned $2.08 earnings per share. The business'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. Analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

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

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.

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