Kingsview Wealth Management LLC Takes Position in Cardinal Health, Inc. $CAH

Kingsview Wealth Management LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,284 shares of the company’s stock, valued at approximately $780,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter worth $6,293,115,000. State Street Corp lifted its holdings in shares of Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after purchasing an additional 221,497 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after purchasing an additional 43,924 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the period. Finally, Norges Bank purchased a new position in Cardinal Health in the 4th quarter worth about $790,344,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the transaction, the chief executive officer owned 190,603 shares in the company, valued at $45,016,616.54. This represents a 18.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on CAH. Wells Fargo & Company boosted their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Evercore reissued an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Morgan Stanley boosted their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Bank of America lifted their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $234.72 on Monday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49. The business’s 50-day simple moving average is $233.10 and its 200-day simple moving average is $218.37.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion for 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 firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

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.