Wesbanco Bank Inc. Purchases 6,670 Shares of Cardinal Health, Inc. $CAH

Key Points

• Wesbanco Bank Inc. increased its holdings in Cardinal Health, Inc. by 229.4% during the second quarter, acquiring an additional 6,670 shares, bringing their total to 9,577 shares valued at approximately $1.6 million.
• Cardinal Health recently reported strong quarterly earnings, posting $2.08 earnings per share, exceeding analysts' expectations of $2.03, alongside a slight increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.5107 per share, reflecting a 1.3% dividend yield, with payments scheduled for October 15th.

Wesbanco Bank Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 229.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,577 shares of the company's stock after buying an additional 6,670 shares during the period. Wesbanco Bank Inc.'s holdings in Cardinal Health were worth $1,609,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CAH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cardinal Health by 86.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,467 shares of the company's stock valued at $7,625,000 after buying an additional 29,919 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Cardinal Health by 138.7% during the 4th quarter. Nomura Holdings Inc. now owns 9,783 shares of the company's stock valued at $1,157,000 after purchasing an additional 5,684 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Cardinal Health in the 4th quarter valued at $574,000. Rafferty Asset Management LLC lifted its stake in shares of Cardinal Health by 11.0% in the 4th quarter. Rafferty Asset Management LLC now owns 27,444 shares of the company's stock valued at $3,246,000 after purchasing an additional 2,711 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Cardinal Health by 1.4% during the fourth quarter. Royal Bank of Canada now owns 744,599 shares of the company's stock worth $88,064,000 after buying an additional 10,315 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup reissued a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Robert W. Baird boosted their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Evercore ISI reduced their price target on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Stock Down 0.1%

Shares of Cardinal Health stock opened at $152.34 on Monday. The company has a 50 day moving average of $154.50 and a 200 day moving average of $147.93. The company has a market capitalization of $36.38 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.29 and a beta of 0.73. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 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 Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health's dividend payout ratio (DPR) is 31.63%.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total value of $16,037,274.50. Following the transaction, the chief executive officer directly owned 235,901 shares in the company, valued at approximately $35,125,658.90. The trade was a 31.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ola M. Snow sold 28,151 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the sale, the insider directly owned 15,431 shares of the company's stock, valued at approximately $2,298,293.14. This represents a 64.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 in the last three months. Company insiders own 0.09% of the company's stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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