Van ECK Associates Corp Acquires 2,861 Shares of Cardinal Health, Inc. $CAH

Van ECK Associates Corp lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,353 shares of the company’s stock after purchasing an additional 2,861 shares during the quarter. Van ECK Associates Corp’s holdings in Cardinal Health were worth $7,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $308,640,000. First Nebraska Trust Co acquired a new stake in Cardinal Health in the 2nd quarter worth approximately $20,050,000. Byrne Financial Freedom LLC acquired a new stake in Cardinal Health in the 4th quarter worth approximately $1,574,000. Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health during the second quarter worth approximately $1,177,000. Finally, Stack Financial Management Inc acquired a new position in Cardinal Health during the second quarter valued at approximately $24,681,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 2.0%

Shares of Cardinal Health stock opened at $239.25 on Wednesday. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The company’s fifty day simple moving average is $233.53 and its 200-day simple moving average is $218.58. The company has a market cap of $55.64 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.41 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business 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. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Insider Buying and Selling at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at $667,303.29. The trade was a 45.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 29,436 shares of the business’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 sale, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock valued at $49,626,657 over the last quarter. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAH shares. Royal Bank Of Canada initiated coverage on shares of Cardinal Health in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price objective for the company. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Morgan Stanley upped their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Robert W. Baird raised their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.56.

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.