Canada Pension Plan Investment Board Buys Shares of 253,886 Cardinal Health, Inc. $CAH

by · The Markets Daily

Canada Pension Plan Investment Board purchased a new stake in Cardinal Health, Inc. (NYSE:CAH – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 253,886 shares of the company’s stock, valued at approximately $60,313,000.

Several other hedge funds have also recently modified their holdings of CAH. University of Texas Texas AM Investment Management Co. purchased a new position in Cardinal Health during the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its holdings in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health during the fourth quarter worth $27,000. Palladiem LLC bought a new stake in Cardinal Health during the 4th quarter valued at $28,000. Finally, Indiana Trust & Investment Management Co bought a new stake in Cardinal Health during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In related news, CEO Stephen M. Mason sold 35,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer directly owned 18,061 shares in the company, valued at $4,269,620.40. The trade was a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 over the last quarter. Insiders own 0.12% of the company’s stock.

Cardinal Health Stock Down 1.4%

Cardinal Health stock opened at $235.01 on Friday. The stock has a 50-day moving average price of $232.84 and a 200 day moving average price of $218.31. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30.

Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping 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 company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Cardinal Health’s quarterly 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. Research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Analyst Ratings Changes

CAH has been the subject of several recent research reports. Evercore reissued an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Morgan Stanley raised their price objective on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Robert W. Baird lifted their target price on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Wells Fargo & Company lifted their target price on 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 boosted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Sixteen investment 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 an average rating of “Moderate Buy” and a consensus target price of $266.56.

View Our Latest Report on CAH

About Cardinal Health

(Free Report)

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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