Railway Pension Investments Ltd Purchases 44,900 Shares of Cardinal Health, Inc. $CAH

Railway Pension Investments Ltd lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 52.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,000 shares of the company’s stock after purchasing an additional 44,900 shares during the period. Railway Pension Investments Ltd’s holdings in Cardinal Health were worth $31,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CAH. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $27,000. Jones Financial Companies Lllp boosted its position in shares of 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 purchasing an additional 14,034 shares in the last quarter. Palladiem LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $28,000. Finally, Indiana Trust & Investment Management Co bought a new stake in Cardinal Health in the 1st quarter valued at about $29,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. Evercore reissued an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health 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 company a “buy” rating in a research report on Thursday, August 13th. Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Performance

NYSE:CAH opened at $234.63 on Tuesday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The firm has a 50-day moving average price of $233.33 and a two-hundred day moving average price of $218.47. The firm has a market cap of $54.57 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s quarterly 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. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share 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. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Insiders Place Their Bets

In other news, CEO Jason M. Hollar sold 80,000 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the completion of the transaction, the chief executive officer directly owned 235,132 shares in the company, valued at approximately $55,430,017.68. The trade was a 25.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock worth $49,626,657 in the last three months. 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.