Cardinal Health, Inc. $CAH Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Cardinal Health, Inc. (NYSE:CAH) by 73.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,179 shares of the company’s stock after buying an additional 21,203 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cardinal Health were worth $11,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of Cardinal Health during the 2nd quarter worth about $308,640,000. First Nebraska Trust Co purchased a new stake in shares of Cardinal Health during the second quarter worth about $20,050,000. Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health in the second quarter valued at approximately $1,177,000. Stack Financial Management Inc acquired a new position in shares of Cardinal Health in the second quarter valued at approximately $24,681,000. Finally, NewEdge Advisors LLC raised its position in shares of Cardinal Health by 52.9% in the first quarter. NewEdge Advisors LLC now owns 33,939 shares of the company’s stock valued at $7,172,000 after buying an additional 11,740 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $253.44 on Friday. Cardinal Health, Inc. has a 12 month low of $152.46 and a 12 month high of $258.30. The business has a 50-day moving average of $234.20 and a two-hundred day moving average of $222.00. The stock has a market capitalization of $58.69 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company’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 research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a dividend of $0.5158 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s dividend payout ratio is 28.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAH. Mizuho upped their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Leerink Partners set a $292.00 price target on Cardinal Health in a research note on Tuesday, August 11th. Royal Bank Of Canada assumed coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target on the stock. Finally, Citigroup raised their price objective on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Insider Activity

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. This trade represents a 8.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason M. Hollar sold 80,000 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the transaction, the chief executive officer owned 235,132 shares in the company, valued at approximately $55,430,017.68. This trade represents a 25.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. 0.12% of the stock is owned by company insiders.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.