Windsor Advisory Group LLC Acquires New Shares in Cardinal Health, Inc. $CAH

Windsor Advisory Group LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,549 shares of the company’s stock, valued at approximately $606,000.

Several other institutional investors have also recently made changes to their positions in CAH. Bank of New York Mellon Corp bought a new position in shares of Cardinal Health in the second quarter worth approximately $308,640,000. Kornitzer Capital Management Inc. KS increased its position in shares of Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after buying an additional 9,120 shares during the period. First Nebraska Trust Co bought a new position in shares of Cardinal Health in the 2nd quarter worth approximately $20,050,000. Byrne Financial Freedom LLC bought a new position in Cardinal Health in the fourth quarter worth $1,574,000. Finally, Belleair Asset Management LLC purchased a new position in Cardinal Health during the 4th quarter valued at about $1,100,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.3%

CAH opened at $238.61 on Thursday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The stock’s fifty day moving average is $232.59 and its two-hundred day moving average is $218.25. The company has a market capitalization of $55.50 billion, a P/E ratio of 33.00, a PEG ratio of 1.43 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued 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 net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the prior year, the business earned $2.08 EPS. The firm’s quarterly 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. Equities analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Insiders Place Their Bets

In other news, CAO Mary C. Scherer sold 2,302 shares of Cardinal Health 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 transaction, the chief accounting officer owned 2,811 shares of the company’s stock, valued at $667,303.29. The trade was a 45.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. 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 completion of the sale, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. The trade was a 47.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Barclays increased 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. Evercore reiterated an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research note on Wednesday, August 12th. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Finally, Robert W. Baird boosted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.56.

About Cardinal Health

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.