Candriam S.C.A. Buys 71,752 Shares of Cardinal Health, Inc. $CAH

Candriam S.C.A. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 287.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,698 shares of the company’s stock after purchasing an additional 71,752 shares during the quarter. Candriam S.C.A.’s holdings in Cardinal Health were worth $21,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Cardinal Health during the second quarter worth $6,293,115,000. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Cardinal Health during the second 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 acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $308,640,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle Greene sold 11,650 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Trading Down 0.3%

Shares of NYSE CAH opened at $270.99 on Monday. The company has a 50 day simple moving average of $240.45 and a two-hundred day simple moving average of $223.55. The stock has a market cap of $62.75 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 1.59 and a beta of 0.53. Cardinal Health, Inc. has a 12 month low of $180.45 and a 12 month high of $286.29.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, November 5th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. The firm had revenue of $67.51 billion for the quarter, compared to analyst estimates of $66.67 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 12.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CAH shares. Wells Fargo & Company raised their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. UBS Group boosted their price target on Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Royal Bank Of Canada increased their price objective on Cardinal Health from $276.00 to $295.00 and gave the company an “outperform” rating in a report on Friday. Finally, Morgan Stanley raised their price objective on Cardinal Health from $265.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.50.

Key Stories Impacting Cardinal Health

Here are the key news stories impacting Cardinal Health this week:

• Positive Sentiment: Fiscal Q1 adjusted EPS was $3.26, ahead of analyst expectations, while revenue rose 5% year over year to $67.5 billion and also topped estimates. The company raised its FY2027 adjusted EPS guidance to $12.80–$13.00, above the FactSet estimate of $12.57. Cardinal Health reports first-quarter results and raises outlook
• Positive Sentiment: Management cited specialty growth, strong demand for generics and customer renewals as supports for the raised outlook. Cardinal Health also completed a $500 million share repurchase program during the quarter. Q1 earnings call highlights
• Positive Sentiment: Royal Bank of Canada raised its price target to $295 from $276 and reiterated an “outperform” rating, signaling continued analyst optimism. Royal Bank of Canada recommendations
• Negative Sentiment: Medical distribution faced pressure, including modest commodity and petroleum-related headwinds. The company’s results and raised forecast indicate these pressures were outweighed by strength in pharmaceuticals and specialty. Cardinal Health sees healthy demand despite commodity pressure

Cardinal Health Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.