Hsbc Holdings PLC Buys 24,810 Shares of Cardinal Health, Inc. $CAH

Hsbc Holdings PLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 544,654 shares of the company’s stock after purchasing an additional 24,810 shares during the period. Hsbc Holdings PLC owned approximately 0.23% of Cardinal Health worth $129,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health during the 4th quarter valued at $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health in the fourth quarter valued at $27,000. Jones Financial Companies Lllp raised its stake in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares during the period. Palladiem LLC purchased a new position in shares of Cardinal Health during the 4th quarter worth about $28,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Cardinal Health during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup upped their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research note on Tuesday, August 11th. Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price objective for the company. TD Cowen upped their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Robert W. Baird boosted their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $266.56.

Insiders Place Their Bets

In related news, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at $18,341,790.45. This represents a 8.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 29,436 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by company insiders.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $238.00 on Wednesday. The business has a fifty day moving average price of $232.34 and a 200 day moving average price of $218.18. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The stock has a market capitalization of $55.35 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping 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 period in the previous year, the company posted $2.08 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts anticipate 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. Shareholders of record on Thursday, October 1st will be paid a $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Cardinal Health Company 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.