PDT Partners LLC Invests $713,000 in Cardinal Health, Inc. $CAH

PDT Partners LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the company’s stock, valued at approximately $713,000.

A number of other large investors also recently bought and sold shares of CAH. Integrated Wealth Concepts LLC raised its position in shares of Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after acquiring an additional 280 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the first 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. Arrowstreet Capital Limited Partnership purchased a new position in Cardinal Health in the second quarter valued at about $1,935,000. Cerity Partners LLC raised its holdings in Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC raised its holdings in Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after purchasing an additional 2,646 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.4%

NYSE:CAH opened at $235.01 on Friday. The company has a market capitalization of $54.66 billion, a P/E ratio of 32.50, a PEG 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 firm has a fifty day simple moving average of $232.84 and a 200-day simple moving average of $218.31.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the prior year, the firm earned $2.08 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Insider Activity

In related news, insider Jessica L. Mayer sold 29,436 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the sale, the insider owned 33,076 shares in the company, valued at $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the completion of the transaction, the chief executive officer owned 190,603 shares in the company, valued at approximately $45,016,616.54. This trade represents a 18.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAH. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. UBS Group increased their target price on shares of Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Robert W. Baird raised their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. TD Cowen lifted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada assumed coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target on the stock. Sixteen 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, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $266.56.

About Cardinal Health

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.