United Capital Financial Advisors LLC Acquires New Position in Cardinal Health, Inc. $CAH

United Capital Financial Advisors LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, Holdings Channel reports. The institutional investor bought 7,401 shares of the company’s stock, valued at approximately $1,758,000.

Several other institutional investors also recently made changes to their positions in CAH. Bank of New York Mellon Corp bought a new position in Cardinal Health in the 2nd quarter worth about $308,640,000. Kornitzer Capital Management Inc. KS raised its holdings in shares of Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after buying an additional 9,120 shares during the last quarter. First Nebraska Trust Co bought a new position in Cardinal Health in the 2nd quarter worth approximately $20,050,000. Byrne Financial Freedom LLC acquired a new stake in Cardinal Health in the 4th quarter valued at approximately $1,574,000. Finally, Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health during the 2nd quarter valued at $1,177,000. 87.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Cardinal Health

In related news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction 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 sale, the insider owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock worth $49,626,657 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $234.72 on Friday. The firm has a 50 day simple moving average of $233.10 and a 200 day simple moving average of $218.42. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The stock has a market cap of $54.59 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Citigroup boosted their target price on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Bank of America lifted their target price on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Wells Fargo & Company increased their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upped their price target on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

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.