JSF Financial LLC Buys New Shares in Cardinal Health, Inc. $CAH

JSF Financial LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, Holdings Channel.com reports. The firm purchased 6,404 shares of the company’s stock, valued at approximately $1,425,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAH. BlackRock Inc. acquired a new stake in shares of Cardinal Health during the second quarter worth $6,293,115,000. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Cardinal Health during the second quarter valued at $689,066,000. Legal & General Group Plc acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $438,870,000. Finally, Pacer Advisors Inc. increased its position in shares of Cardinal Health by 14.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after acquiring an additional 200,021 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH opened at $255.86 on Friday. The firm has a market capitalization of $59.25 billion, a P/E ratio of 35.39, a PEG ratio of 1.55 and a beta of 0.50. Cardinal Health, Inc. has a 1-year low of $158.70 and a 1-year high of $259.21. The company’s fifty day moving average price is $236.17 and its 200-day moving average price is $223.55.

Cardinal Health (NYSE:CAH) last issued its 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 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 firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts anticipate 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 was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Barclays raised their price objective on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.38.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle Greene sold 11,650 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the transaction, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jason Hollar sold 44,529 shares of Cardinal Health stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the transaction, the chief executive officer owned 190,603 shares of the company’s stock, valued at $45,016,616.54. The trade was a 18.94% 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 in the last three months. Company insiders own 0.12% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.