AMF Tjanstepension AB Buys Shares of 157,180 Cardinal Health, Inc. $CAH

AMF Tjanstepension AB bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 157,180 shares of the company’s stock, valued at approximately $26,406,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. bought a new position in Cardinal Health during the 1st quarter valued at $26,000. Jones Financial Companies Lllp raised its stake in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Cardinal Health during the first quarter worth about $48,000. Finally, Garde Capital Inc. acquired a new position in Cardinal Health in the first quarter worth about $52,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAH. Leerink Partners reduced their target price on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Robert W. Baird boosted their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Finally, Bank of America raised their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $165.93.

Insider Buying and Selling at Cardinal Health

In related news, CEO Stephen M. Mason sold 41,575 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the completion of the transaction, the chief executive officer directly owned 26,085 shares of the company’s stock, valued at $3,881,969.70. This represents a 61.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica L. Mayer sold 38,078 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 value of $5,666,767.96. Following the completion of the sale, the insider owned 48,457 shares in the company, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is currently owned by insiders.

Cardinal Health Stock Performance

CAH stock opened at $154.50 on Friday. Cardinal Health, Inc. has a 1 year low of $106.98 and a 1 year high of $168.44. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.34 and a beta of 0.71. The stock’s fifty day moving average is $152.07 and its two-hundred day moving average is $150.25.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health’s payout ratio is 31.63%.

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.