PDT Partners LLC Buys New Stake in Cardinal Health, Inc. $CAH

PDT Partners LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 3,000 shares of the company’s stock, valued at approximately $713,000.

A number of other institutional investors have also recently modified their holdings of CAH. BlackRock Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth about $6,293,115,000. Norges Bank purchased a new position in Cardinal Health in the 4th quarter valued at about $790,344,000. Wellington Management Group LLP lifted its stake in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Legal & General Group Plc acquired a new stake in Cardinal Health in the 2nd quarter worth about $438,870,000. Finally, Bank of New York Mellon Corp purchased a new stake in Cardinal Health during the 2nd quarter worth approximately $308,640,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 1.4%

Shares of NYSE:CAH opened at $235.01 on Friday. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30. The business has a 50-day moving average price of $232.84 and a 200 day moving average price of $218.31.

Cardinal Health (NYSE:CAH) last issued its quarterly 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. The business had revenue of $63.67 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on CAH shares. Citigroup increased their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Bank of America upped their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley increased their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Barclays raised their price target on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 29,436 shares of the company’s stock in a transaction 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 sale, the insider owned 33,076 shares in the company, valued at $7,812,220.44. This represents a 47.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 44,529 shares of the 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 sale, the chief executive officer owned 190,603 shares of the company’s stock, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company’s stock.

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.