Cardinal Health, Inc. $CAH Shares Purchased by Vise Technologies Inc.

Vise Technologies Inc. grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,641 shares of the company’s stock after purchasing an additional 2,121 shares during the quarter. Vise Technologies Inc.’s holdings in Cardinal Health were worth $2,590,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAH. Bank of New York Mellon Corp acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $308,640,000. First Nebraska Trust Co bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $20,050,000. Castlekeep Investment Advisors LLC bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $1,177,000. Saudi Central Bank lifted its stake in Cardinal Health by 87.8% during the second quarter. Saudi Central Bank now owns 16,472 shares of the company’s stock valued at $3,913,000 after purchasing an additional 7,702 shares during the last quarter. Finally, Nilsine Partners LLC lifted its stake in Cardinal Health by 437.7% during the second quarter. Nilsine Partners LLC now owns 6,049 shares of the company’s stock valued at $1,437,000 after purchasing an additional 4,924 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other news, insider Michelle D. Greene sold 11,650 shares of Cardinal Health 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CAH. Evercore restated an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Morgan Stanley increased their price objective on Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Robert W. Baird raised their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Wells Fargo & Company raised their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, Citigroup lifted 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. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.69.

Cardinal Health Price Performance

Shares of CAH opened at $261.77 on Thursday. The company has a 50-day moving average of $239.14 and a two-hundred day moving average of $222.96. The stock has a market cap of $60.62 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.52 and a beta of 0.53. Cardinal Health, Inc. has a one year low of $180.45 and a one year high of $262.29.

Cardinal Health (NYSE:CAH) last released its quarterly 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. The business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

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.