Cardinal Health, Inc. $CAH Shares Purchased by Westover Capital Advisors LLC

Westover Capital Advisors LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 53.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,174 shares of the company’s stock after purchasing an additional 4,254 shares during the period. Westover Capital Advisors LLC’s holdings in Cardinal Health were worth $2,709,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Cardinal Health in the second quarter valued at $6,293,115,000. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after buying an additional 10,584,119 shares during the period. Bank of America Corp DE purchased a new position in shares of Cardinal Health during the second quarter valued at $689,066,000. Legal & General Group Plc purchased a new position in shares of Cardinal Health during the second quarter valued at $438,870,000. Finally, Pacer Advisors Inc. raised its position in Cardinal Health by 14.7% during the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after buying an additional 200,021 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.9%

Shares of Cardinal Health stock opened at $251.91 on Tuesday. The stock has a market capitalization of $58.33 billion, a P/E ratio of 34.84, a PEG ratio of 1.50 and a beta of 0.50. Cardinal Health, Inc. has a 12-month low of $161.35 and a 12-month high of $259.21. The stock has a 50 day moving average price of $236.57 and a two-hundred day moving average price of $221.39.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Insiders Place Their Bets

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica Mayer sold 29,436 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the transaction, the insider owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This trade represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 over the last three months. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAH. Evercore reissued an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a research note on Wednesday, August 12th. Robert W. Baird raised their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price on the stock. Leerink Partners set a $292.00 target price on Cardinal Health in a report on Tuesday, August 11th. Finally, Barclays increased their price target on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.38.

About Cardinal Health

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.