Equitable Holdings Inc. Makes New $3.24 Million Investment in Cardinal Health, Inc. $CAH

Equitable Holdings Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,642 shares of the company’s stock, valued at approximately $3,241,000.

Other institutional investors have also modified their holdings of the company. Investors Research Corp acquired a new stake in Cardinal Health during the second quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health in the 4th quarter worth approximately $26,000. Allied Private Wealth LLC acquired a new position in Cardinal Health in the 2nd quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health in the 4th quarter valued at $27,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Cardinal Health during the 1st quarter worth $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CAH shares. Mizuho raised their price objective on Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Leerink Partners set a $292.00 target price on Cardinal Health in a research note on Tuesday, August 11th. TD Cowen increased their target price on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Bank of America raised their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird lifted their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Price Performance

Cardinal Health stock opened at $235.01 on Friday. The company has a market cap of $54.66 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The stock’s 50-day moving average is $232.84 and its 200-day moving average is $218.31.

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

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

Insider Buying and Selling at Cardinal Health

In related news, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen M. Mason sold 35,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the sale, the chief executive officer owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 210,271 shares of company stock worth $49,626,657. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Company 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.