Navellier & Associates Inc. Acquires 2,889 Shares of Cardinal Health, Inc. $CAH

Navellier & Associates Inc. increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,038 shares of the company’s stock after purchasing an additional 2,889 shares during the period. Cardinal Health makes up 1.3% of Navellier & Associates Inc.’s holdings, making the stock its 13th largest position. Navellier & Associates Inc.’s holdings in Cardinal Health were worth $16,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Investors Research Corp bought a new stake in Cardinal Health in the second quarter valued at approximately $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the fourth quarter worth $26,000. Allied Private Wealth LLC acquired a new stake in Cardinal Health in the 2nd quarter worth about $30,000. Bank of Jackson Hole Trust bought a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $27,000. Finally, Indiana Trust & Investment Management Co bought a new stake in shares of Cardinal Health during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Bank of America raised their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, Evercore reissued an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Sixteen equities research 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 company has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Cardinal Health Price Performance

Cardinal Health stock opened at $234.72 on Friday. The stock’s 50 day moving average is $233.10 and its 200 day moving average is $218.42. The firm has a market cap of $54.59 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $145.87 and a one year high of $258.30.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion during 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. 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 fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 0.9%. Cardinal Health’s payout ratio is presently 28.49%.

Insider Buying and Selling

In other news, CEO Stephen M. Mason sold 35,000 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the sale, the chief executive officer directly owned 18,061 shares in the company, valued at $4,269,620.40. The trade was a 65.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 80,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the transaction, the chief executive officer directly owned 235,132 shares of the company’s stock, valued at $55,430,017.68. This represents a 25.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by company insiders.

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.