Jefferies Financial Group Inc. Takes Position in Cardinal Health, Inc. $CAH

Jefferies Financial Group Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 21,897 shares of the company’s stock, valued at approximately $5,202,000.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of Cardinal Health during the 2nd quarter worth about $308,640,000. Kornitzer Capital Management Inc. KS lifted its holdings in Cardinal Health by 100.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after purchasing an additional 9,120 shares during the last quarter. First Nebraska Trust Co bought a new stake in Cardinal Health during the second quarter worth approximately $20,050,000. Byrne Financial Freedom LLC acquired a new position in Cardinal Health during the fourth quarter valued at approximately $1,574,000. Finally, Belleair Asset Management LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $1,100,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity

In other Cardinal Health news, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, the insider owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mary C. Scherer sold 2,302 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at approximately $667,303.29. This represents a 45.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $234.72 on Friday. Cardinal Health, Inc. has a 52-week low of $145.87 and a 52-week high of $258.30. The business has a fifty day moving average of $233.10 and a two-hundred day moving average of $218.42. The stock has a market cap of $54.59 billion, a PE ratio of 32.46, a PEG ratio of 1.41 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced 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. The business had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio is 28.49%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAH. Evercore reissued an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research report on Wednesday, August 12th. Leerink Partners set a $292.00 price objective on Cardinal Health in a research report on Tuesday, August 11th. Wells Fargo & Company raised their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Mizuho lifted their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.56.

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.