Bank of New York Mellon Corp Sells 122,957 Shares of Cardinal Health, Inc. $CAH

Bank of New York Mellon Corp reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 7.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,472,855 shares of the company’s stock after selling 122,957 shares during the period. Bank of New York Mellon Corp owned about 0.62% of Cardinal Health worth $247,440,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CAH. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Cardinal Health by 75.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 75 shares during the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in shares of Cardinal Health during the 1st quarter worth approximately $26,000. GW&K Investment Management LLC raised its stake in Cardinal Health by 113.4% in the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the period. Harbor Asset Planning Inc. acquired a new stake in Cardinal Health during the 2nd quarter valued at $49,000. Finally, Hantz Financial Services Inc. boosted its position in Cardinal Health by 44.8% during the second quarter. Hantz Financial Services Inc. now owns 307 shares of the company’s stock worth $52,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity

In other news, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares of the company’s stock, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the completion of the sale, the chief executive officer owned 26,085 shares in the company, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $195.30 on Wednesday. Cardinal Health, Inc. has a one year low of $110.63 and a one year high of $197.67. The company has a market cap of $46.40 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.39 and a beta of 0.71. The firm has a 50 day simple moving average of $157.00 and a two-hundred day simple moving average of $155.47.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm had revenue of $64.01 billion for the quarter, compared to the consensus estimate of $59.41 billion. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, October 1st. Cardinal Health’s payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAH shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Argus set a $189.00 price target on shares of Cardinal Health in a research note on Friday, August 22nd. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Jefferies Financial Group set a $220.00 price objective on Cardinal Health and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group upped their target price on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.54.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.