Cardinal Health, Inc. $CAH Shares Newly Purchased by First Nebraska Trust Co

First Nebraska Trust Co purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 81,879 shares of the company’s stock, valued at approximately $18,218,000. Cardinal Health comprises about 1.5% of First Nebraska Trust Co’s investment portfolio, making the stock its 16th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Cardinal Health during the second quarter worth about $6,293,115,000. Wellington Management Group LLP raised its stake in shares of Cardinal Health by 247.5% in the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $689,066,000. Legal & General Group Plc acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $438,870,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cardinal Health by 14.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock worth $330,728,000 after acquiring an additional 200,021 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

CAH opened at $253.32 on Wednesday. Cardinal Health, Inc. has a one year low of $180.45 and a one year high of $259.84. The company’s 50 day simple moving average is $238.67 and its 200-day simple moving average is $222.72. The stock has a market capitalization of $58.66 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.53.

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, beating 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 business had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same quarter last year, the business posted $2.08 earnings per share. Cardinal Health’s revenue for the quarter 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. As a group, analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Insider Buying and Selling

In other news, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica L. 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 completion of the transaction, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In 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 company insiders.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday, August 11th. Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Morgan Stanley increased their target price on Cardinal Health from $265.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 25th. Finally, TD Cowen raised their target price on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.69.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.