2,394 Cardinal Health, Inc. $CAH Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,240 shares of the company’s stock after purchasing an additional 2,394 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cardinal Health were worth $22,081,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new position in Cardinal Health during the 2nd quarter worth approximately $6,293,115,000. Wellington Management Group LLP grew its position in shares of Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after acquiring an additional 10,584,119 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $689,066,000. Legal & General Group Plc bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $438,870,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $308,640,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.0%

Shares of CAH stock opened at $257.50 on Thursday. The business has a 50 day moving average of $235.68 and a two-hundred day moving average of $223.25. Cardinal Health, Inc. has a 52 week low of $157.79 and a 52 week high of $259.09. The company has a market cap of $59.63 billion, a P/E ratio of 35.62, a PEG ratio of 1.55 and a beta of 0.50.

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

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, October 1st. Cardinal Health’s dividend payout ratio is presently 28.49%.

Insider Activity

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 29,436 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 210,271 shares of company stock worth $49,626,657 over the last 90 days. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAH shares. Morgan Stanley upped their price target on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. UBS Group lifted their price objective on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, October 16th. TD Cowen boosted their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Robert W. Baird increased their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, Wells Fargo & Company increased their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $269.38.

Cardinal Health Company Profile

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.