Plato Investment Management Ltd Raises Stake in Cardinal Health, Inc. $CAH

Plato Investment Management Ltd grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 61.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,437 shares of the company’s stock after purchasing an additional 3,197 shares during the quarter. Plato Investment Management Ltd’s holdings in Cardinal Health were worth $1,412,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. DAVENPORT & Co LLC increased its stake in shares of Cardinal Health by 16.3% during the first quarter. DAVENPORT & Co LLC now owns 6,674 shares of the company’s stock valued at $920,000 after buying an additional 934 shares during the period. Principal Financial Group Inc. increased its stake in shares of Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock valued at $43,510,000 after buying an additional 15,956 shares during the period. Silver Oak Securities Incorporated purchased a new position in shares of Cardinal Health during the first quarter valued at $211,000. OneDigital Investment Advisors LLC increased its stake in shares of Cardinal Health by 13.6% during the first quarter. OneDigital Investment Advisors LLC now owns 4,273 shares of the company’s stock valued at $589,000 after buying an additional 512 shares during the period. Finally, IFM Investors Pty Ltd increased its stake in shares of Cardinal Health by 28.5% during the first quarter. IFM Investors Pty Ltd now owns 45,692 shares of the company’s stock valued at $6,295,000 after buying an additional 10,122 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of CAH stock opened at $190.65 on Monday. The company has a market cap of $45.29 billion, a P/E ratio of 29.56, a PEG ratio of 1.39 and a beta of 0.71. The stock’s 50-day moving average is $155.17 and its 200 day moving average is $154.65. Cardinal Health, Inc. has a 1-year low of $107.11 and a 1-year high of $197.67.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.33. The business had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAH. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, October 8th. Wells Fargo & Company restated an “overweight” rating and set a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Citigroup raised their price objective on Cardinal Health from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a research report on Tuesday, August 12th. Finally, UBS Group raised their price objective on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.87.

Insiders Place Their Bets

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the sale, the insider owned 15,431 shares of the company’s stock, valued at approximately $2,298,293.14. This trade represents a 64.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the sale, the insider directly owned 14,976 shares of the company’s stock, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is currently owned by corporate insiders.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.