Caisse de depot et placement du Quebec Purchases Shares of 265,502 Cardinal Health, Inc. $CAH

Caisse de depot et placement du Quebec purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 265,502 shares of the company’s stock, valued at approximately $63,073,000. Caisse de depot et placement du Quebec owned 0.11% of Cardinal Health as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CAH. Investors Research Corp bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in Cardinal Health during the 4th quarter valued at about $26,000. Allied Private Wealth LLC bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $30,000. Bank of Jackson Hole Trust purchased a new position in shares of Cardinal Health in the fourth quarter worth $27,000. Finally, Indiana Trust & Investment Management Co purchased a new position in Cardinal Health in the 1st quarter worth about $29,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CAH. Wells Fargo & Company raised their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. TD Cowen increased their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Mizuho raised their price target on Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Finally, Citigroup upped their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Trading Down 1.4%

Shares of NYSE CAH opened at $235.01 on Friday. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30. The firm 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. The firm has a 50 day moving average of $232.84 and a 200 day moving average of $218.31.

Cardinal Health (NYSE:CAH) last released 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. The business had revenue of $63.67 billion for 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

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

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Stephen M. Mason sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the sale, the chief executive officer owned 18,061 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

About Cardinal Health

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.