Cardinal Health, Inc. $CAH Shares Sold by Quantitative Investment Management LLC

Quantitative Investment Management LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 92.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,816 shares of the company’s stock after selling 22,553 shares during the period. Quantitative Investment Management LLC’s holdings in Cardinal Health were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Cardinal Health in the second quarter worth $6,293,115,000. Wellington Management Group LLP boosted its holdings in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares during the period. Norges Bank bought a new position in shares of Cardinal Health during the fourth quarter worth about $790,344,000. Bank of America Corp DE bought a new position in shares of Cardinal Health during the second quarter worth about $689,066,000. Finally, Legal & General Group Plc acquired a new stake in shares of Cardinal Health in the 2nd quarter worth about $438,870,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This represents a 53.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 over the last 90 days. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CAH has been the subject of several recent analyst reports. Evercore restated an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Bank of America boosted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Morgan Stanley lifted their target price on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Robert W. Baird boosted their price target on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Trading Up 2.0%

NYSE:CAH opened at $239.25 on Wednesday. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The company has a 50-day moving average of $233.53 and a 200-day moving average of $218.58. The firm has a market cap of $55.64 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 1.41 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same period last year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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