Kingsview Wealth Management LLC Makes New Investment in Cardinal Health, Inc. $CAH

Kingsview Wealth Management LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,284 shares of the company’s stock, valued at approximately $780,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Beacon Pointe Advisors LLC bought a new position in shares of Cardinal Health in the 2nd quarter worth about $2,016,000. 49 Wealth Management LLC bought a new position in Cardinal Health in the second quarter worth about $235,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Cardinal Health in the second quarter worth about $27,693,000. Rakuten Investment Management Inc. acquired a new position in Cardinal Health in the second quarter valued at approximately $9,064,000. Finally, Empowered Funds LLC acquired a new position in Cardinal Health in the second quarter valued at approximately $24,552,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the sale, the chief executive officer directly owned 18,061 shares in the company, valued at approximately $4,269,620.40. The trade was a 65.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was 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 of the company’s stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock worth $49,626,657 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CAH shares. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Royal Bank Of Canada assumed coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. UBS Group increased their target price on Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Finally, Mizuho boosted their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Price Performance

CAH opened at $234.72 on Monday. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The stock has a market cap of $54.59 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49. The stock’s 50 day moving average price is $233.10 and its 200 day moving average price is $218.37.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

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 $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

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.