Cardinal Health, Inc. $CAH Stock Acquired by Valley National Advisers Inc.

Valley National Advisers Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4,405.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,956 shares of the company’s stock after buying an additional 9,735 shares during the period. Valley National Advisers Inc.’s holdings in Cardinal Health were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter valued at $6,293,115,000. Wellington Management Group LLP lifted its holdings in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares in the last quarter. Bank of America Corp DE purchased a new stake in Cardinal Health during the 2nd quarter worth about $689,066,000. Legal & General Group Plc bought a new position in Cardinal Health in the 2nd quarter worth about $438,870,000. Finally, Pacer Advisors Inc. boosted its stake in Cardinal Health by 14.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock worth $330,728,000 after purchasing an additional 200,021 shares during the period. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CAH shares. TD Cowen lifted their target price on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Citigroup increased their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, UBS Group boosted their price objective on shares of Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.38.

Insider Buying and Selling

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 stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle Greene sold 11,650 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the sale, 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. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock valued at $49,626,657 in the last three months. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $249.47 on Friday. Cardinal Health, Inc. has a 1 year low of $158.70 and a 1 year high of $259.21. The firm has a market cap of $57.77 billion, a PE ratio of 34.50, a PEG ratio of 1.50 and a beta of 0.50. The company has a 50 day simple moving average of $236.46 and a two-hundred day simple moving average of $223.73.

Cardinal Health (NYSE:CAH) last released 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 business had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

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.