Cardinal Health, Inc. $CAH Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 67.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,301 shares of the company’s stock after selling 37,803 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cardinal Health were worth $4,348,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Cardinal Health during the 2nd quarter valued at $6,293,115,000. Wellington Management Group LLP increased its stake in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after buying an additional 10,584,119 shares during the period. State Street Corp lifted its holdings in Cardinal Health by 1.8% in the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after buying an additional 221,497 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after buying an additional 43,924 shares in the last quarter. Finally, Norges Bank purchased a new position in Cardinal Health in the 4th quarter valued at about $790,344,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at $18,341,790.45. This trade represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 44,529 shares of Cardinal Health stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the completion of the sale, the chief executive officer owned 190,603 shares in the company, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 in the last three months. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAH has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. TD Cowen increased their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Barclays lifted their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Morgan Stanley upped their target price on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 target price on Cardinal Health in a research note on Tuesday, August 11th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Stock Up 1.4%

Shares of CAH stock opened at $248.88 on Friday. The company has a market cap of $57.88 billion, a P/E ratio of 34.42, a PEG ratio of 1.48 and a beta of 0.51. The business has a 50 day moving average of $234.06 and a two-hundred day moving average of $218.99. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping 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%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

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.