Cardinal Health, Inc. $CAH Shares Acquired by Sigma Planning Corp

Sigma Planning Corp lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 31.4% in the second quarter, HoldingsChannel reports. The firm owned 14,126 shares of the company’s stock after buying an additional 3,379 shares during the quarter. Sigma Planning Corp’s holdings in Cardinal Health were worth $3,356,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC raised its stake in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Cardinal Health during the 2nd quarter worth $1,935,000. Cerity Partners LLC grew its stake in Cardinal Health by 17.0% during the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC increased its holdings in Cardinal Health by 34.4% during the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after purchasing an additional 2,646 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $234.72 on Monday. The firm’s fifty day simple moving average is $233.10 and its 200-day simple moving average is $218.37. The stock has a market capitalization of $54.59 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm 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%. Cardinal Health’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current 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 issued a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is presently 28.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Barclays raised their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. TD Cowen lifted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target for the company. Finally, Mizuho increased their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $266.56.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the sale, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 2,811 shares of the company’s stock, valued at $667,303.29. The trade was a 45.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Profile

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.