ProShare Advisors LLC Sells 38,666 Shares of Cardinal Health, Inc. $CAH

ProShare Advisors LLC decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 791,386 shares of the company’s stock after selling 38,666 shares during the quarter. ProShare Advisors LLC’s holdings in Cardinal Health were worth $176,083,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $6,293,115,000. Wellington Management Group LLP raised its holdings in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares during the period. Bank of America Corp DE bought a new stake in Cardinal Health during the 2nd quarter valued at about $689,066,000. Legal & General Group Plc bought a new stake in Cardinal Health during the 2nd quarter valued at $438,870,000. Finally, Pacer Advisors Inc. raised its stake in Cardinal Health by 14.7% in the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after buying an additional 200,021 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada initiated coverage on Cardinal Health in a report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Morgan Stanley increased their target price on Cardinal Health from $265.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Evercore reaffirmed an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $270.69.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $250.41 on Friday. The firm has a market cap of $57.98 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 1.51 and a beta of 0.50. The firm’s 50-day simple moving average is $237.74 and its 200-day simple moving average is $222.29. Cardinal Health, Inc. has a twelve month low of $180.45 and a twelve month high of $259.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $65.15 billion. During the same period last year, the company earned $2.08 EPS. The firm’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 analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

Insider Activity

In other news, 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction dated 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 sale, the insider owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by company insiders.

Cardinal Health Company Profile

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.