Saudi Central Bank Boosts Holdings in Cardinal Health, Inc. $CAH

Saudi Central Bank raised its position in Cardinal Health, Inc. (NYSE:CAH) by 87.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,472 shares of the company’s stock after purchasing an additional 7,702 shares during the period. Saudi Central Bank’s holdings in Cardinal Health were worth $3,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAH. LWM Advisors Inc. increased its stake in Cardinal Health by 4.4% in the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after acquiring an additional 43 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Cardinal Health by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock worth $896,000 after purchasing an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after purchasing an additional 50 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock worth $423,000 after purchasing an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR raised its stake in Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CAH shares. Evercore reissued an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Royal Bank Of Canada began coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target on the stock. TD Cowen increased their price objective on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Barclays boosted their target price on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research note on Tuesday, August 11th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.56.

Insider Activity

In related news, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the transaction, the chief executive officer owned 77,901 shares in the company, valued at $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Mason sold 35,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the transaction, the chief executive officer directly owned 18,061 shares in the company, valued at approximately $4,269,620.40. The trade was a 65.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by insiders.

Cardinal Health Stock Performance

NYSE:CAH opened at $246.67 on Monday. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The business has a 50 day moving average price of $234.23 and a 200-day moving average price of $219.17. The firm has a market cap of $57.37 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

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.