Bank of New York Mellon Corp Has $247.44 Million Stake in Cardinal Health, Inc. $CAH

Bank of New York Mellon Corp lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,472,855 shares of the company’s stock after selling 122,957 shares during the period. Bank of New York Mellon Corp’s holdings in Cardinal Health were worth $247,440,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cardinal Health during the first quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in Cardinal Health by 75.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 75 shares during the period. GW&K Investment Management LLC grew its holdings in Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the last quarter. Finally, Harbor Asset Planning Inc. acquired a new position in Cardinal Health in the 2nd quarter valued at approximately $49,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAH. Evercore ISI lifted their price target on shares of Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Citigroup lifted their target price on Cardinal Health from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. UBS Group upped their price target on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group set a $220.00 price objective on Cardinal Health and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $200.54.

Insider Activity

In related news, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was 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 directly owned 48,457 shares of the company’s stock, valued at $7,211,370.74. The trade was a 44.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ola M. Snow sold 28,151 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares in the company, valued at approximately $2,298,293.14. This trade represents a 64.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Price Performance

NYSE CAH opened at $195.30 on Wednesday. The stock has a market capitalization of $46.40 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.39 and a beta of 0.71. The business has a 50 day simple moving average of $157.00 and a 200 day simple moving average of $155.47. Cardinal Health, Inc. has a one year low of $110.63 and a one year high of $197.67.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, October 1st. Cardinal Health’s payout ratio is 30.77%.

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.