NEOS Investment Management LLC Acquires 3,549 Shares of Cardinal Health, Inc. $CAH

NEOS Investment Management LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 37,684 shares of the company’s stock after purchasing an additional 3,549 shares during the period. NEOS Investment Management LLC’s holdings in Cardinal Health were worth $8,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new position in Cardinal Health in the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust bought a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp grew 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 worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Palladiem LLC acquired a new stake in shares of Cardinal Health in the fourth quarter worth $28,000. Finally, Indiana Trust & Investment Management Co bought a new position in Cardinal Health during the first quarter worth $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In related news, insider Michelle D. 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 value of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica L. Mayer sold 29,436 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was 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 approximately $7,812,220.44. This trade 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 have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAH. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 11th. UBS Group lifted their target price on Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada initiated 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. Finally, Bank of America raised their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Stock Down 0.8%

Shares of Cardinal Health stock opened at $246.67 on Friday. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30. The stock has a market capitalization of $57.37 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51. The company has a 50-day simple moving average of $234.23 and a 200 day simple moving average of $219.18.

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. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s payout ratio is presently 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.