Corient Private Wealth LP Makes New $19.90 Million Investment in Cardinal Health, Inc. $CAH

Corient Private Wealth LP bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, Holdings Channel reports. The fund bought 83,760 shares of the company’s stock, valued at approximately $19,897,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $26,000. Bank of Jackson Hole Trust bought a new stake in Cardinal Health during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp increased its holdings in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the period. Palladiem LLC purchased a new stake in Cardinal Health in the 4th quarter worth approximately $28,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health in the 1st quarter worth approximately $29,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CAH shares. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Mizuho increased their price objective on Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Royal Bank Of Canada began coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. Finally, Morgan Stanley boosted their target price on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $266.56.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $234.72 on Friday. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30. The firm has a market cap of $54.59 billion, a PE ratio of 32.46, a PEG ratio of 1.41 and a beta of 0.49. The company has a 50 day simple moving average of $233.10 and a two-hundred day simple moving average of $218.42.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The firm 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 business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. 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 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the completion of the transaction, the chief executive officer directly owned 235,132 shares in the company, valued at approximately $55,430,017.68. This represents a 25.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen M. Mason sold 35,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the transaction, the chief executive officer owned 18,061 shares in the company, valued at $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 210,271 shares of company stock valued at $49,626,657 over the last quarter. Insiders own 0.12% of the company’s stock.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.