Caisse de depot et placement du Quebec Invests $63.07 Million in Cardinal Health, Inc. $CAH

Caisse de depot et placement du Quebec acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 265,502 shares of the company’s stock, valued at approximately $63,073,000.

A number of other institutional investors have also recently made changes to their positions in CAH. BlackRock Inc. purchased a new position in Cardinal Health during the 2nd quarter valued at approximately $6,293,115,000. State Street Corp increased its position in 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 acquiring an additional 221,497 shares during the last quarter. Geode Capital Management LLC raised its position in Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after purchasing an additional 43,924 shares during the period. Wellington Management Group LLP increased its stake in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares during the period. Finally, Norges Bank bought a new position in shares of Cardinal Health in the fourth quarter worth about $790,344,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the sale, the chief executive officer owned 235,132 shares of the company’s stock, valued at $55,430,017.68. This trade represents a 25.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen M. Mason sold 35,000 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the transaction, the chief executive officer owned 18,061 shares in the company, valued at $4,269,620.40. This trade represents a 65.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAH. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research note on Tuesday, August 11th. Bank of America increased their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their target price on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, TD Cowen increased their price target on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Cardinal Health Stock Performance

Shares of CAH opened at $235.01 on Friday. The company has a 50 day moving average price of $232.84 and a 200-day moving average price of $218.31. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The stock has a market capitalization of $54.66 billion, a PE ratio of 32.50, a PEG ratio of 1.43 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data 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 company 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 was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $2.08 earnings per share. 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 Announces Dividend

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

Cardinal Health Profile

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.