Nykredit A S bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 72,265 shares of the company’s stock, valued at approximately $17,167,000.
Other large investors have also recently bought and sold shares of the company. Investors Research Corp bought a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health in the fourth quarter valued at $26,000. Allied Private Wealth LLC bought a new position in shares of Cardinal Health in the second quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the fourth quarter worth $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the first quarter worth $29,000. 87.17% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Jason Hollar sold 44,529 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 190,603 shares of the company’s stock, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica Mayer sold 29,436 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the sale, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 210,271 shares of company stock valued at $49,626,657. Company insiders own 0.12% of the company’s stock.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.
Cardinal Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Morgan Stanley increased their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings cut shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Wells Fargo & Company raised their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Bank of America lifted their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $266.56.
Check Out Our Latest Research Report on Cardinal Health
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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