Vista Investment Partners LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,627 shares of the company’s stock, valued at approximately $4,812,000. Cardinal Health accounts for 1.2% of Vista Investment Partners LLC’s holdings, making the stock its 26th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $6,293,115,000. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after acquiring an additional 10,584,119 shares during the last quarter. Bank of America Corp DE purchased a new stake in Cardinal Health in the second quarter valued at approximately $689,066,000. Victory Capital Management Inc. grew its holdings in Cardinal Health by 18.1% in the fourth 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 period. Finally, Legal & General Group Plc acquired a new position in Cardinal Health during the second quarter worth approximately $438,870,000. 87.17% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Robert W. Baird increased their target price on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Morgan Stanley lifted their target price on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Wells Fargo & Company boosted their price target on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada began coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target for the company. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.56.
Cardinal Health Stock Up 2.8%
Shares of NYSE CAH traded up $6.41 during trading on Thursday, reaching $238.57. 362,594 shares of the stock were exchanged, compared to its average volume of 1,967,669. The business’s 50-day moving average price is $233.15 and its 200 day moving average price is $220.53. Cardinal Health, Inc. has a twelve month low of $151.87 and a twelve month high of $258.30. The company has a market capitalization of $55.24 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50.
Cardinal Health (NYSE:CAH – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same period last year, the business earned $2.08 EPS. The business’s 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, sell-side analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.
Cardinal Health Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.
Insider Buying and Selling at Cardinal Health
In other news, CAO Mary C. Scherer sold 2,302 shares of Cardinal Health stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following 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 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 Hollar sold 44,529 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the completion of the transaction, the chief executive officer directly owned 190,603 shares of the company’s stock, valued at $45,016,616.54. This represents a 18.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, 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 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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