Cardinal Health, Inc. $CAH Position Cut by Tidal Investments LLC

Tidal Investments LLC decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 41.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 66,088 shares of the company’s stock after selling 47,421 shares during the quarter. Tidal Investments LLC’s holdings in Cardinal Health were worth $15,666,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CAH. California State Teachers Retirement System lifted its position in Cardinal Health by 22,881.2% in the 2nd quarter. California State Teachers Retirement System now owns 85,193,767 shares of the company’s stock valued at $20,238,631,000 after purchasing an additional 84,823,056 shares during the last quarter. BlackRock Inc. bought a new position in Cardinal Health in the 2nd quarter worth about $6,293,115,000. Wellington Management Group LLP grew its position in Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares during the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $790,344,000. Finally, Bank of America Corp DE bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $689,066,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE CAH opened at $235.96 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 $54.88 billion, a PE ratio of 32.64, a P/E/G ratio of 1.44 and a beta of 0.51. The company’s 50 day simple moving average is $234.47 and its 200 day simple moving average is $219.63.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating 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 business 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 firm posted $2.08 earnings per share. The company’s 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. Sell-side analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore reiterated an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research report on Wednesday, August 12th. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Bank of America boosted their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Mizuho increased 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. Finally, Barclays raised their price target on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $266.56.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason Hollar sold 80,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the transaction, the chief executive officer owned 235,132 shares of the company’s stock, valued at approximately $55,430,017.68. This represents a 25.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Mayer sold 29,436 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the sale, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock valued at $49,626,657 in the last three months. Insiders own 0.12% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.