The Manufacturers Life Insurance Company Takes Position in Cardinal Health, Inc. $CAH

The Manufacturers Life Insurance Company purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 165,185 shares of the company’s stock, valued at approximately $39,241,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CAH. Investors Research Corp acquired a new position in Cardinal Health in the 2nd quarter valued at $29,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cardinal Health in the fourth quarter valued at about $26,000. Allied Private Wealth LLC acquired a new position in shares of Cardinal Health during the second quarter worth about $30,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the 4th quarter valued at approximately $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the 1st quarter worth approximately $29,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH stock opened at $238.61 on Thursday. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The stock’s 50 day moving average price is $232.59 and its 200 day moving average price is $218.25. The firm has a market cap of $55.50 billion, a P/E ratio of 33.00, a PEG ratio of 1.43 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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 company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.Cardinal Health’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 29,436 shares of the business’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 value of $6,952,488.84. Following the completion of the transaction, the insider owned 33,076 shares of the company’s stock, valued at $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mary C. Scherer sold 2,302 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the sale, the chief accounting officer owned 2,811 shares in the company, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird raised their target price on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Citigroup upped their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Barclays increased their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health 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.