Altrius Capital Management Inc Sells 1,766 Shares of Cardinal Health, Inc. (NYSE:CAH)

15 Nov 2024, 10:46 by Scott Moore · The Cerbat Gem

Altrius Capital Management Inc cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,015 shares of the company’s stock after selling 1,766 shares during the quarter. Altrius Capital Management Inc’s holdings in Cardinal Health were worth $4,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Paragon Capital Management Inc. grew its stake in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares during the period. Midland Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after purchasing an additional 100 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The trade was a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,351 shares of company stock valued at $7,565,843 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH traded down $0.48 during trading hours on Friday, hitting $120.81. The stock had a trading volume of 276,395 shares, compared to its average volume of 2,103,897. The firm has a 50-day moving average price of $113.00 and a 200 day moving average price of $105.07. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The firm has a market capitalization of $29.24 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.56 and a beta of 0.60.

Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. As a group, analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is presently 39.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Barclays upped their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Mizuho upped their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Check Out Our Latest Analysis on CAH

About Cardinal Health

(Free Report)

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.