Cardinal Health, Inc. $CAH Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 67,835 shares of the company’s stock, valued at approximately $15,093,000.

A number of other institutional investors have also recently bought and sold shares of CAH. Bank of New York Mellon Corp acquired a new stake in Cardinal Health during the 2nd quarter worth $308,640,000. First Nebraska Trust Co bought a new position in Cardinal Health during the second quarter worth about $20,050,000. Castlekeep Investment Advisors LLC acquired a new position in Cardinal Health in the second quarter valued at about $1,177,000. Saudi Central Bank grew its stake in Cardinal Health by 87.8% in the second quarter. Saudi Central Bank now owns 16,472 shares of the company’s stock valued at $3,913,000 after acquiring an additional 7,702 shares during the period. Finally, Stack Financial Management Inc bought a new stake in shares of Cardinal Health in the second quarter worth about $24,681,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research analyst reports. Citigroup raised their price target on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada started coverage on Cardinal Health in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price objective for the company. TD Cowen increased their target price on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Mizuho increased their target price on Cardinal Health from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 20th. Finally, Barclays raised their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $270.69.

Cardinal Health Trading Down 0.4%

Shares of NYSE CAH opened at $253.32 on Wednesday. The company has a fifty day moving average price of $238.67 and a 200 day moving average price of $222.72. The firm has a market cap of $58.66 billion, a PE ratio of 35.04, a PEG ratio of 1.53 and a beta of 0.53. Cardinal Health, Inc. has a 1-year low of $180.45 and a 1-year high of $259.84.

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 the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 12.55 EPS 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 $0.5158 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s payout ratio is presently 28.49%.

Insiders Place Their Bets

In related news, insider Michelle Greene sold 11,650 shares of the stock in a transaction on 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 owned 10,330 shares in the company, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Hollar sold 44,529 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the transaction, the chief executive officer owned 190,603 shares of the company’s stock, valued at $45,016,616.54. The trade was a 18.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

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.