Krilogy Financial LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 151.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,795 shares of the company’s stock after buying an additional 3,490 shares during the quarter. Krilogy Financial LLC’s holdings in Cardinal Health were worth $1,289,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Cardinal Health in the 2nd quarter worth approximately $6,293,115,000. Wellington Management Group LLP grew its position in Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares in the last quarter. Bank of America Corp DE acquired a new stake in Cardinal Health in the second quarter valued at approximately $689,066,000. Legal & General Group Plc acquired a new stake in Cardinal Health in the second quarter valued at approximately $438,870,000. Finally, Pacer Advisors Inc. raised its stake in shares of Cardinal Health by 14.7% during the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after purchasing an additional 200,021 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.
Cardinal Health Stock Up 2.3%
CAH opened at $253.44 on Friday. The company’s 50-day moving average price is $234.20 and its 200 day moving average price is $222.00. Cardinal Health, Inc. has a fifty-two week low of $152.46 and a fifty-two week high of $258.30. The firm has a market cap of $58.69 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.49. The company had revenue of $63.67 billion during 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 earnings per share for the current year.
Cardinal Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were issued a $0.5158 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s dividend payout ratio is presently 28.49%.
Analysts Set New Price Targets
A number of research firms have recently commented on CAH. Royal Bank Of Canada began coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price on the stock. Citigroup upped their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a report on Tuesday, August 11th. Barclays raised 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. Finally, UBS Group lifted their price target on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.
View Our Latest Report on Cardinal Health
Insiders Place Their Bets
In other Cardinal Health news, CAO Mary C. Scherer sold 2,302 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total transaction of $546,471.78. Following the transaction, the chief accounting officer owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.
Cardinal Health Company 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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