Cardinal Health, Inc. $CAH Stock: North Dakota State Investment Board Grows Stake

North Dakota State Investment Board lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 213.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,250 shares of the company’s stock after purchasing an additional 15,154 shares during the quarter. North Dakota State Investment Board’s holdings in Cardinal Health were worth $4,951,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CAH. Victory Financial Group LLC bought a new stake in shares of Cardinal Health during the third quarter worth about $288,000. Asset Management One Co. Ltd. raised its holdings in shares of Cardinal Health by 6.4% in 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 last quarter. John Boyer Inc. bought a new position in Cardinal Health in the 3rd quarter valued at about $34,000. Investment Advisory Services Inc. TX ADV lifted its position 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 valued at $245,000 after acquiring an additional 105 shares in the last quarter. Finally, WD Rutherford LLC lifted its position in Cardinal Health by 103.5% in the 3rd quarter. WD Rutherford LLC now owns 6,907 shares of the company’s stock valued at $1,537,000 after acquiring an additional 3,513 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAH. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Citigroup raised their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Bank of America raised their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley lifted their target price on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Mizuho upped their price target on Cardinal Health from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $269.38.

Cardinal Health Trading Down 0.8%

Shares of CAH opened at $244.47 on Thursday. The company has a market capitalization of $56.61 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 1.50 and a beta of 0.50. The stock has a 50 day moving average of $236.98 and a 200 day moving average of $221.80. Cardinal Health, Inc. has a 12 month low of $161.64 and a 12 month high of $259.21.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. The business had revenue of $63.67 billion for 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%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Insider Activity at Cardinal Health

In related news, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total transaction of $546,471.78. Following the completion of the transaction, the chief accounting officer owned 2,811 shares in the company, valued at approximately $667,303.29. This represents a 45.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, 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. Over the last ninety days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by company insiders.

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.