Strategic Global Advisors LLC Buys Shares of 11,994 Cardinal Health, Inc. $CAH

Strategic Global Advisors LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,994 shares of the company’s stock, valued at approximately $2,849,000.

Several other institutional investors have also recently made changes to their positions in CAH. Windsor Advisory Group LLC acquired a new position in Cardinal Health in the second quarter valued at approximately $606,000. Caisse de depot et placement du Quebec acquired a new stake in Cardinal Health during the second quarter worth $63,073,000. Man Group plc acquired a new stake in Cardinal Health during the second quarter worth $222,013,000. First Bancorp Inc ME purchased a new stake in Cardinal Health in the second quarter valued at $89,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in Cardinal Health in the second quarter valued at $280,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a 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 report on Wednesday, August 12th. Wells Fargo & Company increased their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Barclays lifted their price target on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Finally, Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Trading Up 0.3%

Shares of NYSE CAH opened at $238.61 on Thursday. The stock has a market capitalization of $55.50 billion, a PE ratio of 33.00, a PEG ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The stock has a fifty day simple moving average of $232.59 and a 200-day simple moving average of $218.25.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (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 for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Cardinal Health’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

Insiders Place Their Bets

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

Cardinal Health 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.