Coastal Bridge Advisors LLC Makes New $549,000 Investment in Cardinal Health, Inc. $CAH

Coastal Bridge Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,309 shares of the company’s stock, valued at approximately $549,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in Cardinal Health in the 2nd quarter valued at $308,640,000. Kornitzer Capital Management Inc. KS grew its position in shares of Cardinal Health by 100.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after purchasing an additional 9,120 shares during the period. First Nebraska Trust Co acquired a new position in Cardinal Health in the second quarter valued at $20,050,000. Byrne Financial Freedom LLC acquired a new stake in Cardinal Health in the 4th quarter worth about $1,574,000. Finally, Belleair Asset Management LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $1,100,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the transaction, the chief executive officer owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 29,436 shares of the company’s 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 owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock worth $49,626,657 over the last 90 days. Insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $234.72 on Friday. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The company’s fifty day moving average is $233.10 and its two-hundred day moving average is $218.42. The stock has a market capitalization of $54.59 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share 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 during the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’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. Sell-side analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore reaffirmed an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. TD Cowen boosted their price target on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Wells Fargo & Company upped their target price on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Citigroup increased their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $266.56.

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.