Van ECK Associates Corp Has $7.92 Million Holdings in Cardinal Health, Inc. $CAH

Van ECK Associates Corp boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 9.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 33,353 shares of the company’s stock after buying an additional 2,861 shares during the period. Van ECK Associates Corp’s holdings in Cardinal Health were worth $7,923,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Cardinal Health during the 2nd quarter worth about $308,640,000. First Nebraska Trust Co bought a new stake in Cardinal Health during the second quarter worth about $20,050,000. Byrne Financial Freedom LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $1,574,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of Cardinal Health during the second quarter worth approximately $1,177,000. Finally, Stack Financial Management Inc bought a new position in shares of Cardinal Health in the second quarter valued at approximately $24,681,000. 87.17% of the stock is currently owned by institutional investors.

Insider Activity at Cardinal Health

In related news, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was 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 owned 10,330 shares in the company, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mary C. Scherer sold 2,302 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at $667,303.29. The trade was a 45.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock worth $49,626,657 over the last 90 days. Insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $239.25 on Wednesday. The stock has a market capitalization of $55.64 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 1.41 and a beta of 0.51. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The stock has a fifty day moving average of $233.53 and a 200-day moving average of $218.58.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.49. The business had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared 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 is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s payout ratio is currently 28.49%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Evercore reissued an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a research note on Wednesday, August 12th. Zacks Research lowered Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Leerink Partners set a $292.00 price target on Cardinal Health in a report on Tuesday, August 11th. Finally, Morgan Stanley upped 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Company 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.