Cardinal Health, Inc. $CAH Stock: State of Alaska Department of Revenue Grows Position

State of Alaska Department of Revenue grew its position in Cardinal Health, Inc. (NYSE:CAH) by 73.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,179 shares of the company’s stock after acquiring an additional 21,203 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cardinal Health were worth $11,165,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Downshift Financial LLC increased its position in Cardinal Health by 3,666.7% during the 3rd quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Indiana Trust & Investment Management Co purchased a new position in Cardinal Health in the first quarter valued at approximately $29,000. Investors Research Corp purchased a new position in Cardinal Health in the second quarter valued at approximately $29,000. Allied Private Wealth LLC acquired a new position in Cardinal Health during the second quarter valued at approximately $30,000. Finally, NBH Bank acquired a new position in shares of Cardinal Health during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CAH shares. Evercore reaffirmed an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 27th. Leerink Partners set a $292.00 price objective on Cardinal Health in a research report on Tuesday, August 11th. Morgan Stanley raised their price objective on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada began 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. 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, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Stock Up 2.3%

Shares of NYSE CAH opened at $253.44 on Friday. Cardinal Health, Inc. has a fifty-two week low of $152.46 and a fifty-two week high of $258.30. The business has a 50 day moving average price of $234.20 and a two-hundred day moving average price of $222.00. The firm has a market cap of $58.69 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50.

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

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

Insiders Place Their Bets

In other Cardinal Health news, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This represents a 53.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason M. Hollar sold 44,529 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the transaction, the chief executive officer directly owned 190,603 shares of the company’s stock, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 insiders.

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.