Vest Financial LLC Sells 14,768 Shares of Cardinal Health, Inc. $CAH

Vest Financial LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 222,195 shares of the company’s stock after selling 14,768 shares during the period. Vest Financial LLC’s holdings in Cardinal Health were worth $49,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Cardinal Health during the second quarter valued at $6,293,115,000. Wellington Management Group LLP increased its position in shares of Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares during the period. Bank of America Corp DE acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $689,066,000. Legal & General Group Plc acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $438,870,000. Finally, Bank of New York Mellon Corp purchased a new position in Cardinal Health in the 2nd quarter worth $308,640,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday, August 11th. Robert W. Baird boosted their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Evercore reissued an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a report on Wednesday, August 12th. TD Cowen raised their price objective on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Wells Fargo & Company raised their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.38.

Insider Activity at Cardinal Health

In other news, CEO Jason M. Hollar sold 44,529 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the completion of the transaction, the chief executive officer owned 190,603 shares of the company’s stock, valued at $45,016,616.54. The trade was a 18.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 11,650 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, 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. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock worth $49,626,657 in the last three months. Company insiders own 0.12% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $257.50 on Thursday. The firm’s fifty day simple moving average is $235.68 and its 200-day simple moving average is $223.25. The company has a market capitalization of $59.63 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50. Cardinal Health, Inc. has a 12 month low of $157.79 and a 12 month high of $259.09.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued a $0.5158 dividend. This represents a $2.06 annualized dividend and a 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%.

About Cardinal Health

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.