Engineers Gate Manager LP Reduces Position in Cardinal Health, Inc. $CAH

Engineers Gate Manager LP reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 72.9% during the second quarter, HoldingsChannel.com reports. The firm owned 20,964 shares of the company’s stock after selling 56,363 shares during the period. Engineers Gate Manager LP’s holdings in Cardinal Health were worth $4,980,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CAH. LWM Advisors Inc. raised its holdings in shares of Cardinal Health by 4.4% in the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Cardinal Health by 2.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company’s stock worth $426,000 after acquiring an additional 43 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in Cardinal Health by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock valued at $896,000 after acquiring an additional 49 shares during the period. Hillsdale Investment Management Inc. grew its position in Cardinal Health by 0.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after acquiring an additional 50 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock worth $423,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAH. Citigroup boosted their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Barclays increased their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Evercore reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. TD Cowen lifted their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 11th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Insider Activity

In other news, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock worth $49,626,657 over the last quarter. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Down 0.6%

NYSE:CAH opened at $234.54 on Friday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The firm has a 50 day moving average of $234.38 and a 200 day moving average of $219.74. The stock has a market capitalization of $54.55 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.42 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.49. The company 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 was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.