Cardinal Health, Inc. $CAH Stock Sold by VestGen Advisors LLC

VestGen Advisors LLC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 55.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,483 shares of the company’s stock after selling 5,532 shares during the quarter. VestGen Advisors LLC’s holdings in Cardinal Health were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Financial Group LLC purchased a new position in shares of Cardinal Health during the 3rd quarter worth approximately $288,000. Asset Management One Co. Ltd. increased its holdings in Cardinal Health by 6.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 127,699 shares of the company’s stock valued at $28,413,000 after purchasing an additional 7,696 shares during the last quarter. John Boyer Inc. purchased a new stake in Cardinal Health in the third quarter valued at approximately $34,000. Investment Advisory Services Inc. TX ADV raised its position in Cardinal Health by 10.6% in the third quarter. Investment Advisory Services Inc. TX ADV now owns 1,100 shares of the company’s stock valued at $245,000 after purchasing an additional 105 shares during the period. Finally, WD Rutherford LLC lifted its stake in Cardinal Health by 103.5% during the third quarter. WD Rutherford LLC now owns 6,907 shares of the company’s stock worth $1,537,000 after purchasing an additional 3,513 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 11,650 shares of the business’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 sale, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mary C. Scherer sold 2,302 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the sale, the chief accounting officer directly owned 2,811 shares in the company, valued at $667,303.29. This trade represents a 45.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

Cardinal Health Trading Down 0.3%

CAH stock opened at $250.41 on Friday. Cardinal Health, Inc. has a twelve month low of $180.45 and a twelve month high of $259.84. The company’s 50 day moving average is $237.74 and its two-hundred day moving average is $222.29. The stock has a market cap of $57.98 billion, a P/E ratio of 34.63, a PEG ratio of 1.51 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the prior year, the firm earned $2.08 EPS. 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. On average, equities research analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued 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 yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAH shares. UBS Group increased their target price on Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Citigroup lifted their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. TD Cowen boosted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Evercore reissued an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.69.

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.