Cardinal Health, Inc. $CAH Holdings Increased by Lone Peak Global Investors LLC

Lone Peak Global Investors LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,090 shares of the company’s stock after acquiring an additional 6,928 shares during the quarter. Cardinal Health accounts for 4.0% of Lone Peak Global Investors LLC’s holdings, making the stock its 5th largest position. Lone Peak Global Investors LLC’s holdings in Cardinal Health were worth $28,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investors Research Corp purchased a new position in Cardinal Health in the second quarter valued at $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cardinal Health in the fourth quarter valued at approximately $26,000. Allied Private Wealth LLC purchased a new stake in shares of Cardinal Health in the second quarter valued at approximately $30,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Cardinal Health during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH opened at $239.25 on Wednesday. The company’s 50-day moving average is $233.53 and its two-hundred day moving average is $218.58. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The firm has a market capitalization of $55.64 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.41 and a beta of 0.51.

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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. 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 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

Insider Buying and Selling at Cardinal Health

In other news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAH. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Royal Bank Of Canada started coverage on Cardinal Health in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 target price on the stock. Robert W. Baird lifted their price target on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Barclays increased their price objective on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley boosted their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $266.56.

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.