Artemis Investment Management LLP Sells 26,268 Shares of Cardinal Health, Inc. $CAH

Artemis Investment Management LLP reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,092 shares of the company’s stock after selling 26,268 shares during the quarter. Artemis Investment Management LLP’s holdings in Cardinal Health were worth $76,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its holdings in shares of Cardinal Health by 7.4% during the third quarter. Valeo Financial Advisors LLC now owns 3,076 shares of the company’s stock worth $684,000 after buying an additional 213 shares in the last quarter. Vista Investment Partners LLC purchased a new stake in Cardinal Health during the third quarter valued at about $4,812,000. Alkeme Wealth LLC increased its position in Cardinal Health by 2.3% during the 3rd quarter. Alkeme Wealth LLC now owns 12,372 shares of the company’s stock worth $2,753,000 after purchasing an additional 281 shares in the last quarter. Venture Visionary Partners LLC raised its stake in shares of Cardinal Health by 20.9% in the 3rd quarter. Venture Visionary Partners LLC now owns 2,870 shares of the company’s stock valued at $639,000 after acquiring an additional 497 shares during the period. Finally, Elevation Wealth Partners LLC raised its position in Cardinal Health by 35.3% in the third quarter. Elevation Wealth Partners LLC now owns 207 shares of the company’s stock valued at $46,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In other news, CEO Jason M. Hollar sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was 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. This trade represents a 25.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 currently owned by insiders.

Cardinal Health Stock Up 1.7%

Shares of NYSE CAH traded up $3.92 during mid-day trading on Thursday, hitting $236.08. 304,966 shares of the company traded hands, compared to its average volume of 1,967,351. Cardinal Health, Inc. has a 1 year low of $151.87 and a 1 year high of $258.30. The business has a 50 day moving average of $233.15 and a two-hundred day moving average of $220.53. The stock has a market capitalization of $54.67 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 1.40 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm’s revenue 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. As a group, research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAH. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Citigroup increased their target price on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada started coverage on shares of Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective on the stock. TD Cowen increased their price target on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Leerink Partners set a $292.00 target price on shares of Cardinal Health in a research report on Tuesday, August 11th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

About Cardinal Health

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.