Public Employees Retirement System of Ohio Acquires Shares of 79,309 Cardinal Health, Inc. $CAH

Public Employees Retirement System of Ohio bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 79,309 shares of the company’s stock, valued at approximately $18,841,000.

A number of other large investors have also made changes to their positions in CAH. BlackRock Inc. purchased a new position in Cardinal Health during the 2nd quarter worth approximately $6,293,115,000. State Street Corp lifted its holdings in shares of Cardinal Health by 1.8% in the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after purchasing an additional 221,497 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after purchasing an additional 43,924 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Finally, Norges Bank acquired a new position in Cardinal Health during the fourth quarter valued at $790,344,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.2%

Shares of CAH stock opened at $234.72 on Friday. The stock has a 50 day moving average of $233.10 and a two-hundred day moving average of $218.42. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The company has a market capitalization of $54.59 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.Cardinal Health’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal 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 $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 yield of 0.9%. Cardinal Health’s payout ratio is presently 28.49%.

Wall Street Analyst Weigh In

Several research firms recently commented on CAH. Evercore restated an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Robert W. Baird increased their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley upped their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Sixteen research 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 has a consensus rating of “Moderate Buy” and an average target price of $266.56.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason M. Hollar sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the sale, the chief executive officer directly owned 235,132 shares in the company, valued at $55,430,017.68. This represents a 25.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.

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.