Public Employees Retirement System of Ohio Takes Position in Cardinal Health, Inc. $CAH

Public Employees Retirement System of Ohio purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,309 shares of the company’s stock, valued at approximately $18,841,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. LWM Advisors Inc. grew its position in shares of Cardinal Health by 4.4% during the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after buying an additional 43 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock worth $896,000 after purchasing an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after buying an additional 50 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Cardinal Health by 2.6% during the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock worth $423,000 after buying an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR grew its position in shares of Cardinal Health by 11.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock worth $105,000 after acquiring an additional 51 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cardinal Health

In related news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health 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 transaction, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the sale, the chief executive officer directly owned 235,132 shares of the company’s stock, valued at $55,430,017.68. The trade was a 25.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. Royal Bank Of Canada initiated coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective on the stock. Robert W. Baird raised their price target on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Mizuho lifted their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Wells Fargo & Company increased their price objective 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. Finally, Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Sixteen research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Stock Performance

NYSE:CAH opened at $234.72 on Friday. The business has a fifty day moving average of $233.10 and a 200-day moving average of $218.42. The stock has a market cap of $54.59 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30.

Cardinal Health (NYSE:CAH) last issued 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. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same period in the prior year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed 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 is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is 28.49%.

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.