2,670 Shares in Cardinal Health, Inc. $CAH Bought by Capstone Capital Management Ltd

Capstone Capital Management Ltd purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,670 shares of the company’s stock, valued at approximately $594,000.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Cardinal Health in the second quarter valued at about $308,640,000. First Nebraska Trust Co acquired a new stake in shares of Cardinal Health during the 2nd quarter worth about $20,050,000. Castlekeep Investment Advisors LLC bought a new stake in shares of Cardinal Health during the 2nd quarter worth about $1,177,000. Stack Financial Management Inc bought a new stake in shares of Cardinal Health during the 2nd quarter worth about $24,681,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Cardinal Health by 52.9% during the 1st quarter. NewEdge Advisors LLC now owns 33,939 shares of the company’s stock worth $7,172,000 after buying an additional 11,740 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAH. TD Cowen increased their price target on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company boosted their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley increased their target price on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, Evercore reiterated an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a research note on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.38.

Cardinal Health Trading Up 1.8%

Shares of CAH stock opened at $257.15 on Wednesday. The stock has a market cap of $59.54 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. Cardinal Health, Inc. has a 1 year low of $156.81 and a 1 year high of $258.30. The stock has a 50 day simple moving average of $235.21 and a 200 day simple moving average of $222.94.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend 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 28.49%.

Insider Buying and Selling

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer directly 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 filing with the SEC, which is available at the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This trade represents a 53.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Insiders own 0.12% of the company’s stock.

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.