HighTower Advisors LLC Acquires 14,750 Shares of Cardinal Health, Inc. $CAH

HighTower Advisors LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 18.6% in the second quarter, Holdings Channel reports. The fund owned 93,896 shares of the company’s stock after acquiring an additional 14,750 shares during the period. HighTower Advisors LLC’s holdings in Cardinal Health were worth $22,306,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAH. California State Teachers Retirement System boosted its holdings in shares of Cardinal Health by 22,881.2% in the second quarter. California State Teachers Retirement System now owns 85,193,767 shares of the company’s stock valued at $20,238,631,000 after buying an additional 84,823,056 shares during the period. BlackRock Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at about $6,293,115,000. Wellington Management Group LLP lifted its holdings in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after purchasing an additional 10,584,119 shares in the last quarter. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter worth about $790,344,000. Finally, Bank of America Corp DE bought a new position in shares of Cardinal Health during the second quarter worth about $689,066,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the sale, the chief accounting officer owned 2,811 shares in the company, valued at approximately $667,303.29. This represents a 45.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock worth $49,626,657 in the last quarter. Company insiders own 0.12% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $239.90 on Wednesday. The company has a market cap of $55.80 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51. The firm has a 50-day moving average of $234.48 and a 200-day moving average of $219.43. Cardinal Health, Inc. has a one year low of $145.87 and a one year high of $258.30.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.49. The business had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CAH. Royal Bank Of Canada assumed coverage on Cardinal Health in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 target price on the stock. UBS Group lifted their price objective on shares of Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Bank of America increased their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Barclays raised their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Finally, Leerink Partners set a $292.00 price objective on Cardinal Health in a report on Tuesday, August 11th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

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.