CoreCap Advisors LLC Increases Position in Cardinal Health, Inc. $CAH

CoreCap Advisors LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,654 shares of the company’s stock after acquiring an additional 2,947 shares during the period. CoreCap Advisors LLC’s holdings in Cardinal Health were worth $8,133,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Indiana Trust & Investment Management Co bought a new position in shares of Cardinal Health in the first quarter worth about $29,000. Investors Research Corp bought a new stake in Cardinal Health during the 2nd quarter valued at approximately $29,000. Allied Private Wealth LLC bought a new stake in Cardinal Health during the 2nd quarter valued at approximately $30,000. NBH Bank acquired a new stake in Cardinal Health in the 2nd quarter valued at approximately $31,000. Finally, Elevation Wealth Partners LLC grew its holdings in Cardinal Health by 282.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 153 shares of the company’s stock valued at $36,000 after buying an additional 113 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cardinal Health

In related news, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, the insider owned 10,330 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the sale, the chief executive officer directly owned 190,603 shares in the company, valued at $45,016,616.54. The trade was a 18.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock worth $49,626,657 in the last 90 days. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CAH. Royal Bank Of Canada assumed coverage on Cardinal Health in a report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target for the company. Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 11th. UBS Group boosted their target price on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Citigroup upped 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. Finally, Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Price Performance

Shares of CAH traded up $6.99 on Thursday, reaching $239.15. 1,537,871 shares of the stock traded hands, compared to its average volume of 1,973,910. The firm has a market cap of $55.38 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 1.40 and a beta of 0.50. Cardinal Health, Inc. has a 12 month low of $151.87 and a 12 month high of $258.30. The stock’s 50-day moving average price is $233.15 and its 200-day moving average price is $220.53.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. 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 (DPR) is presently 28.49%.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.