Saudi Central Bank Acquires 7,702 Shares of Cardinal Health, Inc. $CAH

Saudi Central Bank lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 87.8% during the second quarter, HoldingsChannel.com reports. The firm owned 16,472 shares of the company’s stock after purchasing an additional 7,702 shares during the quarter. Saudi Central Bank’s holdings in Cardinal Health were worth $3,913,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. LWM Advisors Inc. boosted its holdings in Cardinal Health by 4.4% in the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after acquiring an additional 43 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in Cardinal Health by 1.2% in the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock worth $896,000 after buying an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Cardinal Health by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after buying an additional 50 shares during the last quarter. V Square Quantitative Management LLC raised its position in Cardinal Health by 2.6% in the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock worth $423,000 after buying an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in Cardinal Health by 11.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after acquiring an additional 51 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.2%

Shares of NYSE CAH opened at $246.67 on Monday. The firm has a 50 day moving average of $234.23 and a 200 day moving average of $219.17. The firm has a market capitalization of $57.37 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30.

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 0.8%. Cardinal Health’s payout ratio is 28.49%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAH. Evercore reiterated an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research note on Wednesday, August 12th. Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. UBS Group raised their target price on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 target price for the company. Finally, Bank of America increased their price target on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Insider Buying and Selling at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the sale, the chief accounting officer directly owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This represents a 45.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle D. Greene sold 11,650 shares of the firm’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 sale, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

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.