Navellier & Associates Inc. Increases Holdings in Cardinal Health, Inc. $CAH

Navellier & Associates Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,038 shares of the company’s stock after purchasing an additional 2,889 shares during the quarter. Cardinal Health accounts for about 1.3% of Navellier & Associates Inc.’s holdings, making the stock its 13th largest position. Navellier & Associates Inc.’s holdings in Cardinal Health were worth $16,401,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC lifted its holdings in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after buying an additional 280 shares in the last quarter. 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. Arrowstreet Capital Limited Partnership bought a new stake in Cardinal Health during the 2nd quarter worth approximately $1,935,000. Cerity Partners LLC lifted its stake in Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its stake in Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after purchasing an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CAH shares. Evercore restated an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Barclays boosted their target price on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Leerink Partners set a $292.00 price target on Cardinal Health in a report on Tuesday, August 11th. Finally, TD Cowen lifted their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 29,436 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michelle D. Greene sold 11,650 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider owned 10,330 shares of the company’s stock, valued at $2,434,987.60. The trade was a 53.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $234.72 on Friday. The firm’s fifty day moving average price is $233.10 and its 200-day moving average price is $218.42. The stock has a market cap of $54.59 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30.

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, topping the consensus estimate of $2.42 by $0.49. The company had revenue of $63.67 billion during 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period 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. On average, analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Cardinal Health Company Profile

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.