Alta Advisers Ltd Invests $201,000 in Cardinal Health, Inc. $CAH

Alta Advisers Ltd bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,196 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock worth $433,012,000 after buying an additional 105,154 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Cardinal Health by 1,666.7% during the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock worth $328,470,000 after purchasing an additional 2,249,241 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Cardinal Health by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company’s stock worth $227,877,000 after purchasing an additional 52,714 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Cardinal Health by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,788 shares of the company’s stock valued at $171,749,000 after acquiring an additional 7,940 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAH shares. Argus set a $189.00 price objective on Cardinal Health in a report on Friday, August 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Leerink Partners lifted their price target on Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Cardinal Health Price Performance

NYSE:CAH opened at $156.86 on Friday. The business has a 50 day simple moving average of $152.09 and a 200-day simple moving average of $151.21. Cardinal Health, Inc. has a 1 year low of $106.98 and a 1 year high of $168.44. The firm has a market capitalization of $37.27 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.33 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The company’s revenue for the quarter 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 expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 31.63%.

Insiders Place Their Bets

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the sale, the insider owned 15,431 shares of the company’s stock, valued at approximately $2,298,293.14. The trade was a 64.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason M. Hollar sold 107,705 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.90, for a total value of $16,037,274.50. Following the sale, the chief executive officer directly owned 235,901 shares of the company’s stock, valued at approximately $35,125,658.90. This represents a 31.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 271,676 shares of company stock worth $40,489,525. Insiders own 0.12% of the company’s stock.

About Cardinal Health

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.