Livforsakringsbolaget Skandia Omsesidigt Invests $27.69 Million in Cardinal Health, Inc. $CAH

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 116,599 shares of the company’s stock, valued at approximately $27,693,000. Cardinal Health accounts for approximately 0.9% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Cardinal Health during the 2nd quarter valued at approximately $6,293,115,000. Norges Bank purchased a new position in shares of Cardinal Health during the fourth quarter worth $790,344,000. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Bank of America Corp DE acquired a new position in Cardinal Health during the second quarter valued at $689,066,000. Finally, Legal & General Group Plc purchased a new stake in Cardinal Health in the second quarter valued at $438,870,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In other Cardinal Health news, insider Michelle D. Greene sold 11,650 shares of the firm’s 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 sale, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This trade represents a 53.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 44,529 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the completion of the sale, the chief executive officer directly owned 190,603 shares of the company’s stock, valued at $45,016,616.54. This trade represents a 18.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company’s stock.

Cardinal Health Stock Down 0.2%

Shares of 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 stock has a market cap of $54.59 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. The firm’s fifty day moving average is $233.10 and its two-hundred day moving average is $218.42.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results 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 firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same period last year, the firm posted $2.08 earnings per share. The company’s revenue for the quarter 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, 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is currently 28.49%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent research reports. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. 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 report on Wednesday, August 12th. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, Evercore restated an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a research report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $266.56.

About Cardinal Health

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.