Turner Financial Group Inc. Acquires New Holdings in Cardinal Health, Inc. $CAH

Turner Financial Group Inc. purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,434 shares of the company’s stock, valued at approximately $578,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Three Seasons Wealth LLC boosted its stake in shares of Cardinal Health by 67.5% during the 2nd quarter. Three Seasons Wealth LLC now owns 7,481 shares of the company’s stock worth $1,777,000 after acquiring an additional 3,015 shares during the last quarter. Raiffeisen Bank International AG boosted its stake in shares of Cardinal Health by 1.7% in the second quarter. Raiffeisen Bank International AG now owns 6,363 shares of the company’s stock worth $1,503,000 after acquiring an additional 105 shares during the period. NEOS Investment Management LLC grew its holdings in Cardinal Health by 10.4% during the 2nd quarter. NEOS Investment Management LLC now owns 37,684 shares of the company’s stock valued at $8,933,000 after buying an additional 3,549 shares in the last quarter. Power Wealth Management LLC purchased a new position in Cardinal Health during the second quarter valued at $261,000. Finally, AXQ Capital LP increased its holdings in shares of Cardinal Health by 30.8% in the second quarter. AXQ Capital LP now owns 9,817 shares of the company’s stock worth $2,332,000 after purchasing an additional 2,312 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In other news, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction on Wednesday, August 19th. The shares were 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 $667,303.29. This represents a 45.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle Greene sold 11,650 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $246.67 on Friday. The company has a market cap of $57.37 billion, a PE ratio of 34.12, a P/E/G ratio of 1.49 and a beta of 0.51. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The business has a 50-day simple moving average of $234.23 and a two-hundred day simple moving average of $219.18.

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

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. Cardinal Health’s dividend payout ratio is currently 28.49%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAH shares. Morgan Stanley boosted their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Robert W. Baird increased their price target on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Citigroup lifted their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wells Fargo & Company lifted their target price on Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.