Man Group plc Takes Position in Cardinal Health, Inc. $CAH

Man Group plc bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the second quarter, Holdings Channel reports. The institutional investor bought 934,556 shares of the company’s stock, valued at approximately $222,013,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Bancorp Inc ME acquired a new stake in Cardinal Health during the second quarter worth $89,000. Roberts Glore & Co. Inc. IL acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $280,000. Jupiter Topco LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $209,842,000. Hsbc Holdings PLC lifted its holdings in shares of Cardinal Health by 4.8% during the 2nd quarter. Hsbc Holdings PLC now owns 544,654 shares of the company’s stock worth $129,577,000 after acquiring an additional 24,810 shares during the period. Finally, EFG International AG bought a new position in shares of Cardinal Health during the 2nd quarter worth about $184,000. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAH has been the topic of a number of analyst reports. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Mizuho raised their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Barclays lifted their price objective on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Citigroup upped 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. Finally, Wells Fargo & Company increased their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” 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’s stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Up 2.4%

Shares of CAH stock opened at $238.00 on Wednesday. The company has a market capitalization of $55.35 billion, a P/E ratio of 32.92, a P/E/G ratio of 1.24 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 firm has a 50-day moving average price of $232.34 and a 200 day moving average price of $218.18.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. The firm 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 company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Insider Activity

In other Cardinal Health news, CAO Mary C. Scherer sold 2,302 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the transaction, the chief accounting officer owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. The trade was a 45.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the sale, the insider owned 10,330 shares in the company, valued at $2,434,987.60. The trade was a 53.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

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.