Cardinal Health, Inc. $CAH Shares Sold by Park National Corp OH

Park National Corp OH lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,115 shares of the company’s stock after selling 4,578 shares during the quarter. Park National Corp OH’s holdings in Cardinal Health were worth $11,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. boosted its holdings in Cardinal Health by 78.1% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,313 shares of the company’s stock worth $2,072,000 after acquiring an additional 4,083 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cardinal Health by 6,447.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 108,364 shares of the company’s stock valued at $24,111,000 after purchasing an additional 106,709 shares during the period. CX Institutional lifted its position in shares of Cardinal Health by 158.9% during the third quarter. CX Institutional now owns 6,647 shares of the company’s stock worth $1,479,000 after purchasing an additional 4,080 shares in the last quarter. Montecito Bank & Trust acquired a new position in shares of Cardinal Health during the third quarter worth $229,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Cardinal Health by 176.8% in the second quarter. QRG Capital Management Inc. now owns 167,009 shares of the company’s stock valued at $39,675,000 after purchasing an additional 106,682 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CAH shares. UBS Group lifted their price target on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup upped their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Zacks Research lowered Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Finally, Royal Bank Of Canada initiated coverage on Cardinal Health in a research note on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded up $4.60 during trading on Monday, reaching $232.90. The company had a trading volume of 518,648 shares, compared to its average volume of 1,978,612. Cardinal Health, Inc. has a fifty-two week low of $151.87 and a fifty-two week high of $258.30. The firm’s fifty day moving average is $233.02 and its 200-day moving average is $220.11. The company has a market cap of $53.93 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 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 company had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter last year, the business posted $2.08 EPS. Cardinal Health’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Insider Buying and Selling

In other news, insider Jessica Mayer sold 29,436 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle Greene sold 11,650 shares of the business’s stock in a transaction dated 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 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. Company insiders own 0.12% of the company’s stock.

Cardinal Health Profile

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.