Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 543,383 shares of the company’s stock after selling 15,229 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Cardinal Health worth $120,903,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Downshift Financial LLC lifted its position in shares of Cardinal Health by 3,666.7% in the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Investors Research Corp purchased a new position in Cardinal Health during the second quarter valued at approximately $29,000. Maryland Capital Advisors Inc. grew its position in Cardinal Health by 12,600.0% during the third quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock valued at $28,000 after purchasing an additional 126 shares in the last quarter. Allied Private Wealth LLC acquired a new position in Cardinal Health in the 2nd quarter valued at approximately $30,000. Finally, NBH Bank acquired a new position in Cardinal Health in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.
Insider Activity at Cardinal Health
In other Cardinal Health news, insider Jessica L. Mayer sold 29,436 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was 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 owned 33,076 shares of the company’s stock, valued at $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the sale, the chief executive officer owned 235,132 shares of the company’s stock, valued at approximately $55,430,017.68. This trade represents a 25.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company’s stock.
Cardinal Health Stock Performance
Shares of NYSE CAH opened at $254.69 on Tuesday. The stock has a market cap of $58.98 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 1.47 and a beta of 0.50. The business has a 50 day simple moving average of $238.24 and a 200 day simple moving average of $222.52. Cardinal Health, Inc. has a 52 week low of $180.45 and a 52 week high of $259.84.
Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.
Cardinal Health Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health’s dividend payout ratio is presently 28.49%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lifted 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. Barclays boosted their price target on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. UBS Group upped their price target on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $270.69.
View Our Latest Analysis on CAH
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.
Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.
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