Jupiter Topco LLC Invests $209.84 Million in Cardinal Health, Inc. $CAH

Jupiter Topco LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, Holdings Channel.com reports. The firm bought 883,308 shares of the company’s stock, valued at approximately $209,842,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Cardinal Health in the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the fourth quarter worth $27,000. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. Palladiem LLC bought a new position in Cardinal Health in the fourth quarter worth about $28,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health in the first quarter worth about $29,000. 87.17% of the stock is currently owned by institutional investors.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Stephen M. Mason sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the sale, the chief executive officer owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. The trade was a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Citigroup upped their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Mizuho raised their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Bank of America upped their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, UBS Group upped their price objective on Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Trading Up 0.3%

Shares of CAH opened at $238.61 on Thursday. The firm has a market cap of $55.50 billion, a PE ratio of 33.00, a P/E/G ratio of 1.43 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30. The firm has a fifty day simple moving average of $232.59 and a two-hundred day simple moving average of $218.25.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during 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 business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is 28.49%.

Cardinal Health 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.