Cardinal Health, Inc. $CAH Holdings Boosted by Westover Capital Advisors LLC

Westover Capital Advisors LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 53.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,174 shares of the company’s stock after purchasing an additional 4,254 shares during the period. Westover Capital Advisors LLC’s holdings in Cardinal Health were worth $2,709,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAH. Pinnacle Associates Ltd. lifted its stake in shares of Cardinal Health by 2.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,404 shares of the company’s stock valued at $312,000 after purchasing an additional 39 shares during the period. LWM Advisors Inc. lifted its holdings in Cardinal Health by 4.4% in the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Cardinal Health by 2.5% during the second quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company’s stock worth $426,000 after acquiring an additional 43 shares during the last quarter. Annex Advisory Services LLC grew its position in shares of Cardinal Health by 1.5% in the third quarter. Annex Advisory Services LLC now owns 2,914 shares of the company’s stock valued at $648,000 after purchasing an additional 44 shares during the period. Finally, Kathmere Capital Management LLC grew 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 valued at $896,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $251.91 on Tuesday. The firm’s 50 day moving average is $236.57 and its 200-day moving average is $221.39. The stock has a market capitalization of $58.33 billion, a P/E ratio of 34.84, a P/E/G ratio of 1.50 and a beta of 0.50. Cardinal Health, Inc. has a 12-month low of $161.35 and a 12-month high of $259.21.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given 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 was Thursday, October 1st. Cardinal Health’s dividend payout ratio is 28.49%.

Insider Activity at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of Cardinal Health stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at $667,303.29. The trade was a 45.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica L. Mayer sold 29,436 shares of the business’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 in the company, valued at $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CAH shares. Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Wells Fargo & Company lifted their price target on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Bank of America raised their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. UBS Group boosted their price target on shares of Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a report on Friday, October 16th. Finally, TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.38.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.