Vista Investment Partners LLC Acquires New Position in Cardinal Health, Inc. $CAH

Vista Investment Partners LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 21,627 shares of the company’s stock, valued at approximately $4,812,000. Cardinal Health comprises 1.2% of Vista Investment Partners LLC’s holdings, making the stock its 26th largest holding.

Several other hedge funds also recently made changes to their positions in CAH. BlackRock Inc. acquired a new stake in shares of Cardinal Health during the 2nd quarter valued at approximately $6,293,115,000. Wellington Management Group LLP boosted its holdings in Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares during the period. Bank of America Corp DE acquired a new position in Cardinal Health in the second quarter worth $689,066,000. Legal & General Group Plc bought a new stake in Cardinal Health during the second quarter valued at $438,870,000. Finally, Bank of New York Mellon Corp bought a new stake in Cardinal Health during the second quarter valued at $308,640,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded up $6.41 during trading hours on Thursday, hitting $238.57. The stock had a trading volume of 362,594 shares, compared to its average volume of 1,967,669. The stock’s fifty day simple moving average is $233.15 and its 200 day simple moving average is $220.53. The firm has a market capitalization of $55.24 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.40 and a beta of 0.50. Cardinal Health, Inc. has a 1-year low of $151.87 and a 1-year high of $258.30.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts anticipate 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 $0.5158 dividend. The ex-dividend date of this dividend 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 presently 28.49%.

Analysts Set New Price Targets

CAH has been the topic of a number of recent research reports. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research report on Tuesday, August 11th. Bank of America boosted their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Evercore reissued an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Citigroup lifted their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada started coverage on Cardinal Health in a report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price for the company. Sixteen equities 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 presently has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Insider Buying and Selling

In other news, insider Michelle Greene sold 11,650 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction dated 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 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Company insiders own 0.12% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.