The Manufacturers Life Insurance Company Takes Position in Cardinal Health, Inc. $CAH

Key Points

• The Manufacturers Life Insurance Company acquired 165,185 Cardinal Health shares worth approximately $39.2 million in the second quarter, while institutional investors collectively own 87.17% of the stock.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates of $2.42, as revenue rose 5.8% year over year to $63.67 billion. The company issued FY 2027 EPS guidance of $12.40–$12.60.
• Shares opened at $238.61, and analysts maintain a “Moderate Buy” consensus with an average price target of $266.56; the company also announced a quarterly dividend of $0.5158 per share.

The Manufacturers Life Insurance Company purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 165,185 shares of the company's stock, valued at approximately $39,241,000. The Manufacturers Life Insurance Company owned about 0.07% of Cardinal Health as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Cardinal Health during the second quarter worth $6,293,115,000. Norges Bank purchased a new position in shares of Cardinal Health during the 4th quarter worth $790,344,000. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock worth $911,010,000 after purchasing an additional 3,511,579 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Cardinal Health during the 2nd quarter worth about $308,640,000. Finally, Deutsche Bank AG purchased a new stake in Cardinal Health in the 2nd quarter valued at about $238,933,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Insiders Place Their Bets

In other news, CAO Mary C. Scherer sold 2,302 shares of Cardinal Health 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 sale, the chief accounting officer directly owned 2,811 shares of the company's stock, valued at approximately $667,303.29. The trade was a 45.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider owned 10,330 shares of the company's stock, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

Cardinal Health Trading Up 0.3%

NYSE:CAH opened at $238.61 on Thursday. 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 $55.50 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The stock has a fifty day moving average price of $232.59 and a 200 day moving average price of $218.25.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results 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 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 company earned $2.08 EPS. Cardinal Health's revenue for the quarter 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. Equities analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The company 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 of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health's dividend payout ratio is currently 28.49%.

Analysts Set New Price Targets

CAH has been the subject of a number of recent analyst reports. Evercore reiterated an "outperform" rating and set a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Leerink Partners set a $292.00 price target on Cardinal Health in a research note on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Finally, Mizuho lifted their price objective on Cardinal Health from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Sixteen 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 presently has an average rating of "Moderate Buy" and an average price target of $266.56.

Cardinal Health Company 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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