Cardinal Health, Inc. $CAH Stock Sold by Vest Financial LLC

Vest Financial LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,195 shares of the company’s stock after selling 14,768 shares during the period. Vest Financial LLC owned 0.10% of Cardinal Health worth $49,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Downshift Financial LLC raised its stake in Cardinal Health by 3,666.7% in the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Investors Research Corp bought a new stake in Cardinal Health during the 2nd quarter valued at $29,000. Maryland Capital Advisors Inc. boosted its position in Cardinal Health by 12,600.0% during the 3rd quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 126 shares in the last quarter. Allied Private Wealth LLC bought a new stake in Cardinal Health during the 2nd quarter valued at $30,000. Finally, NBH Bank purchased a new position in shares of Cardinal Health in the 2nd quarter valued at $31,000. 87.17% of the stock is currently owned by institutional investors.

Insider Transactions at Cardinal Health

In related news, CEO Jason Hollar sold 44,529 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the transaction, the chief executive officer directly owned 190,603 shares in the company, valued at $45,016,616.54. The trade was a 18.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mary C. Scherer sold 2,302 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at $667,303.29. This represents a 45.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAH. Mizuho boosted their price target on Cardinal Health from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Tuesday. Leerink Partners set a $292.00 price objective on Cardinal Health in a research note on Tuesday, August 11th. 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. Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Bank of America lifted their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.38.

Cardinal Health Stock Down 0.0%

NYSE CAH opened at $257.50 on Thursday. The firm has a market cap of $59.63 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50. The company has a 50 day moving average price of $235.68 and a 200 day moving average price of $223.25. Cardinal Health, Inc. has a 52 week low of $157.79 and a 52 week high of $259.09.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating 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 company had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. Cardinal Health’s revenue for the quarter 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 research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a $0.5158 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.