Cardinal Health, Inc. $CAH Stock Bought by North Dakota State Investment Board

North Dakota State Investment Board raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 213.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,250 shares of the company’s stock after acquiring an additional 15,154 shares during the quarter. North Dakota State Investment Board’s holdings in Cardinal Health were worth $4,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Victory Financial Group LLC purchased a new position in shares of Cardinal Health during the 3rd quarter valued at $288,000. Asset Management One Co. Ltd. grew its stake in shares of Cardinal Health by 6.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 127,699 shares of the company’s stock worth $28,413,000 after acquiring an additional 7,696 shares during the period. John Boyer Inc. bought a new position in shares of Cardinal Health during the 3rd quarter worth $34,000. Investment Advisory Services Inc. TX ADV increased its holdings in Cardinal Health by 10.6% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 1,100 shares of the company’s stock worth $245,000 after acquiring an additional 105 shares during the last quarter. Finally, WD Rutherford LLC increased its holdings in Cardinal Health by 103.5% in the 3rd quarter. WD Rutherford LLC now owns 6,907 shares of the company’s stock worth $1,537,000 after acquiring an additional 3,513 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Insider Transactions at Cardinal Health

In other news, CAO Mary C. Scherer sold 2,302 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the transaction, the chief accounting officer directly owned 2,811 shares in the company, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Mayer sold 29,436 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 210,271 shares of company stock valued at $49,626,657. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $244.47 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $161.64 and a fifty-two week high of $259.21. The stock has a market cap of $56.61 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 1.50 and a beta of 0.50. The stock has a fifty day moving average of $236.98 and a 200-day moving average of $221.80.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data 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. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The business had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, sell-side analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on CAH shares. Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Robert W. Baird lifted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. TD Cowen boosted their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Finally, UBS Group raised their price objective on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, October 16th. Sixteen equities 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, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $269.38.

Cardinal Health Profile

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.