Strategic Global Advisors LLC Makes New Investment in Cardinal Health, Inc. $CAH

Strategic Global Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, Holdings Channel reports. The firm acquired 11,994 shares of the company’s stock, valued at approximately $2,849,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in Cardinal Health in the second quarter valued at $308,640,000. Kornitzer Capital Management Inc. KS grew its holdings in shares of Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after purchasing an additional 9,120 shares during the last quarter. First Nebraska Trust Co acquired a new stake in shares of Cardinal Health during the second quarter worth about $20,050,000. Byrne Financial Freedom LLC purchased a new stake in shares of Cardinal Health in the 4th quarter valued at about $1,574,000. Finally, Belleair Asset Management LLC purchased a new stake in shares of Cardinal Health in the 4th quarter valued at about $1,100,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CAH shares. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Citigroup increased their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Wells Fargo & Company raised their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Stock Performance

Shares of CAH opened at $238.61 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The firm has a 50-day simple moving average of $232.59 and a 200-day simple moving average of $218.25. The company has a market capitalization of $55.50 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued 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 firm 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 revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. 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 EPS for the current year.

Cardinal Health Announces Dividend

The business 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. 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 payout ratio is presently 28.49%.

Insiders Place Their Bets

In related news, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction on 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 transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by company insiders.

About Cardinal Health

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.