Cardinal Health, Inc. $CAH Shares Purchased by Columbus Macro LLC

Columbus Macro LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 11.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 44,074 shares of the company’s stock after acquiring an additional 4,634 shares during the quarter. Columbus Macro LLC’s holdings in Cardinal Health were worth $9,806,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Cardinal Health in the 2nd quarter valued at $308,640,000. First Nebraska Trust Co acquired a new stake in Cardinal Health during the 2nd quarter worth $20,050,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of Cardinal Health during the second quarter worth $1,177,000. Stack Financial Management Inc purchased a new stake in shares of Cardinal Health during the second quarter worth $24,681,000. Finally, Handelsbanken Fonder AB raised its position in shares of Cardinal Health by 12.5% in the second quarter. Handelsbanken Fonder AB now owns 133,971 shares of the company’s stock valued at $31,826,000 after buying an additional 14,919 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Cardinal Health stock traded up $7.60 during trading on Wednesday, reaching $247.32. 1,972,080 shares of the company were exchanged, compared to its average volume of 1,962,192. The stock’s 50 day simple moving average is $233.72 and its two-hundred day simple moving average is $221.39. The company has a market capitalization of $57.27 billion, a P/E ratio of 34.21, a PEG ratio of 1.43 and a beta of 0.50. Cardinal Health, Inc. has a 52-week low of $152.46 and a 52-week high of $258.30.

Cardinal Health (NYSE:CAH) last issued its 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 company had revenue of $63.67 billion during 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is currently 28.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 27th. Mizuho upped their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Robert W. Baird upped their price objective on shares of Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Insider Activity

In related news, CEO Stephen M. Mason sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the sale, the chief executive officer owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 29,436 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the sale, the insider owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company’s stock.

Cardinal Health Company 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.