Castlekeep Investment Advisors LLC Buys Shares of 4,954 Cardinal Health, Inc. $CAH

Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 4,954 shares of the company’s stock, valued at approximately $1,177,000. Cardinal Health comprises approximately 0.6% of Castlekeep Investment Advisors LLC’s holdings, making the stock its 27th biggest holding.

A number of other large investors have also modified their holdings of the business. Kinloch Capital LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at about $5,081,000. Royal Capital Wealth Management LLC acquired a new position in Cardinal Health during the second quarter worth about $454,000. Legal & General Group Plc acquired a new position in Cardinal Health during the second quarter worth about $438,870,000. The Manufacturers Life Insurance Company purchased a new stake in Cardinal Health during the 2nd quarter valued at about $39,241,000. Finally, Fiduciary Financial Advisors purchased a new stake in Cardinal Health during the 2nd quarter valued at about $113,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $238.00 on Wednesday. The company’s 50 day simple moving average is $232.34 and its 200-day simple moving average is $218.18. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The company has a market capitalization of $55.35 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping 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 firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter last year, the company posted $2.08 EPS. The firm’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. Equities analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given 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 is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

Insiders Place Their Bets

In related news, CAO Mary C. Scherer sold 2,302 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the sale, the chief accounting officer owned 2,811 shares in the company, valued at approximately $667,303.29. The trade was a 45.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 190,603 shares in the company, valued at $45,016,616.54. This represents a 18.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research reports. Citigroup raised their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. TD Cowen upped their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Mizuho increased their price target on Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Robert W. Baird boosted their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Sixteen equities research 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 stock presently has an average rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Company Profile

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.