Two Sigma Securities LLC Buys Shares of 20,707 Cardinal Health, Inc. $CAH

Two Sigma Securities LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the second quarter, Holdings Channel reports. The institutional investor bought 20,707 shares of the company’s stock, valued at approximately $4,919,000.

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

Insider Buying and Selling

In other news, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 29,436 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 in the company, valued at $7,812,220.44. This represents a 47.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $234.72 on Monday. The stock has a market cap of $54.59 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The business has a fifty day moving average of $233.10 and a 200-day moving average of $218.37.

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, beating analysts’ consensus estimates of $2.42 by $0.49. The business 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 revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank Of Canada initiated coverage on Cardinal Health in a report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price for the company. Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. UBS Group boosted their price objective on Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Citigroup upped their price objective on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Robert W. Baird increased their target price on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $266.56.

About Cardinal Health

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.