Riverview Trust Co Raises Stake in Cardinal Health, Inc. $CAH

Riverview Trust Co grew its position in Cardinal Health, Inc. (NYSE:CAH) by 16.9% during the 2nd quarter, Holdings Channel reports. The fund owned 1,037 shares of the company’s stock after buying an additional 150 shares during the quarter. Riverview Trust Co’s holdings in Cardinal Health were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAH. MassMutual Private Wealth & Trust FSB raised its position in shares of Cardinal Health by 3.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company’s stock valued at $297,000 after buying an additional 62 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Cardinal Health by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company’s stock valued at $389,000 after buying an additional 72 shares during the last quarter. Community Bank & Trust Waco Texas raised its position in shares of Cardinal Health by 1.3% in the second quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company’s stock valued at $940,000 after buying an additional 74 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company’s stock valued at $106,000 after buying an additional 77 shares during the last quarter. Finally, G&S Capital LLC raised its position in shares of Cardinal Health by 0.8% in the second quarter. G&S Capital LLC now owns 9,476 shares of the company’s stock valued at $1,592,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Evercore ISI dropped their price target on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, August 13th. Leerink Partners dropped their price target on shares of Cardinal Health from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. UBS Group reaffirmed a “buy” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Citigroup reaffirmed a “neutral” rating and set a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.93.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the sale, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle D. Greene sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the sale, the insider owned 14,976 shares of the company’s stock, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 over the last quarter. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Up 0.5%

CAH opened at $157.79 on Thursday. Cardinal Health, Inc. has a 52-week low of $106.98 and a 52-week high of $168.44. The company has a 50 day moving average of $152.11 and a two-hundred day moving average of $149.90. The company has a market cap of $37.49 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.33 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. Cardinal Health’s revenue for the quarter was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health’s payout ratio is currently 31.63%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.