Cardinal Health, Inc. $CAH Stock Acquired by Courier Capital LLC

Courier Capital LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 100.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,280 shares of the company’s stock after buying an additional 2,140 shares during the period. Courier Capital LLC’s holdings in Cardinal Health were worth $952,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CAH. BlackRock Inc. bought a new stake in shares of Cardinal Health during the second quarter worth $6,293,115,000. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after acquiring an additional 10,584,119 shares during the period. Bank of America Corp DE acquired a new stake in shares of Cardinal Health during the second quarter worth $689,066,000. Legal & General Group Plc bought a new stake in Cardinal Health in the 2nd quarter valued at $438,870,000. Finally, Pacer Advisors Inc. lifted its position in Cardinal Health by 14.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after acquiring an additional 200,021 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jason M. Hollar sold 44,529 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the completion of the transaction, the chief executive officer owned 190,603 shares in the company, valued at $45,016,616.54. This trade represents a 18.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by company insiders.

Cardinal Health Trading Up 0.6%

Shares of NYSE CAH traded up $1.53 during midday trading on Tuesday, reaching $239.61. The company’s stock had a trading volume of 1,352,187 shares, compared to its average volume of 1,962,141. Cardinal Health, Inc. has a fifty-two week low of $151.87 and a fifty-two week high of $258.30. The stock has a market capitalization of $55.48 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 1.43 and a beta of 0.50. The stock has a 50 day simple moving average of $233.60 and a 200-day simple moving average of $221.19.

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

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is 28.49%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAH shares. Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Mizuho lifted their price target on Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Leerink Partners set a $292.00 price target on Cardinal Health in a report on Tuesday, August 11th. Evercore reaffirmed an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research report on Wednesday, August 12th. Finally, Morgan Stanley upped their price objective on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.