Cardinal Health, Inc. $CAH Stock: Courier Capital LLC Grows Stake

Courier Capital LLC increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 100.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,280 shares of the company’s stock after acquiring an additional 2,140 shares during the quarter. Courier Capital LLC’s holdings in Cardinal Health were worth $952,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Downshift Financial LLC increased its position in Cardinal Health by 3,666.7% in the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 110 shares during the period. Sivik Global Healthcare LLC lifted its position in Cardinal Health by 4.2% during the 3rd quarter. Sivik Global Healthcare LLC now owns 25,000 shares of the company’s stock valued at $5,562,000 after purchasing an additional 1,000 shares during the period. Fragasso Financial Advisors Inc boosted its stake in shares of Cardinal Health by 9.7% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 1,428 shares of the company’s stock valued at $339,000 after purchasing an additional 126 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of Cardinal Health by 1,161.4% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,602 shares of the company’s stock valued at $356,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Mirador Capital Partners LP grew its position in shares of Cardinal Health by 1.2% during the 3rd quarter. Mirador Capital Partners LP now owns 9,965 shares of the company’s stock worth $2,217,000 after buying an additional 120 shares during the period. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In other news, insider Michelle Greene sold 11,650 shares of Cardinal Health stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason Hollar sold 44,529 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by company insiders.

Cardinal Health Stock Performance

CAH traded up $1.53 during midday trading on Tuesday, reaching $239.61. 1,352,187 shares of the company were exchanged, compared to its average volume of 1,962,141. The stock has a market capitalization of $55.48 billion, a P/E ratio of 33.14, a PEG ratio of 1.43 and a beta of 0.50. Cardinal Health, Inc. has a one year low of $151.87 and a one year high of $258.30. The stock’s 50-day simple moving average is $233.60 and its 200 day simple moving average is $221.19.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. Cardinal Health’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. 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 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced 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 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Analyst Upgrades and Downgrades

CAH has been the topic of several analyst reports. Royal Bank Of Canada began coverage on shares of Cardinal Health in a report on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Mizuho lifted their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Morgan Stanley upped their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

About Cardinal Health

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.