Rakuten Investment Management Inc. Acquires Shares of 38,371 Cardinal Health, Inc. $CAH

Rakuten Investment Management Inc. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, HoldingsChannel reports. The fund bought 38,371 shares of the company’s stock, valued at approximately $9,064,000.

A number of other large investors have also made changes to their positions in CAH. University of Texas Texas AM Investment Management Co. purchased a new position in Cardinal Health during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the fourth quarter worth $27,000. Jones Financial Companies Lllp grew its holdings in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares in the last quarter. Palladiem LLC acquired a new stake in shares of Cardinal Health in the 4th quarter worth $28,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Cardinal Health during the 1st quarter worth $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 44,529 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the completion of the sale, the chief executive officer directly owned 190,603 shares in the company, valued at approximately $45,016,616.54. This trade represents a 18.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock worth $49,626,657 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of several recent research reports. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Evercore reiterated an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. TD Cowen increased their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley increased their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Down 0.2%

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

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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 analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal 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 $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

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.