Turner Financial Group Inc. Buys New Holdings in Cardinal Health, Inc. $CAH

Turner Financial Group Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,434 shares of the company’s stock, valued at approximately $578,000.

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

Analysts Set New Price Targets

Several research firms have weighed in on CAH. Bank of America increased their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. TD Cowen boosted their target price on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Leerink Partners set a $292.00 price target on Cardinal Health in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Stock Performance

Cardinal Health stock opened at $246.67 on Friday. The stock’s 50 day simple moving average is $234.23 and its two-hundred day simple moving average is $219.18. The stock has a market cap of $57.37 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.49 and a beta of 0.51. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30.

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

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 44,529 shares of Cardinal Health stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the completion of the transaction, the chief executive officer owned 190,603 shares in the company, valued at approximately $45,016,616.54. The trade was a 18.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by insiders.

Cardinal Health 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.