Cardinal Health, Inc. $CAH Position Cut by VestGen Advisors LLC

VestGen Advisors LLC lessened its holdings in Cardinal Health, Inc. (NYSE:CAH) by 55.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,483 shares of the company’s stock after selling 5,532 shares during the period. VestGen Advisors LLC’s holdings in Cardinal Health were worth $998,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAH. Downshift Financial LLC increased its stake in shares of Cardinal Health by 3,666.7% during the 3rd quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Maryland Capital Advisors Inc. raised its position in shares of Cardinal Health by 12,600.0% during the 3rd quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 126 shares during the last quarter. Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health in the 1st quarter valued at approximately $29,000. Investors Research Corp purchased a new stake in Cardinal Health in the 2nd quarter valued at approximately $29,000. Finally, Allied Private Wealth LLC purchased a new stake in Cardinal Health in the 2nd quarter valued at approximately $30,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on CAH. Royal Bank Of Canada started coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. Morgan Stanley boosted their target price on shares of Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target 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. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 25th. Finally, Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $270.69.

Insider Transactions at Cardinal Health

In other news, CEO Jason M. Hollar sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the sale, the chief executive officer directly owned 235,132 shares in the company, valued at $55,430,017.68. This trade represents a 25.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health 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 sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 210,271 shares of company stock worth $49,626,657 over the last three months. Insiders own 0.12% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $250.41 on Friday. The business has a 50-day moving average of $237.74 and a two-hundred day moving average of $222.29. The firm has a market capitalization of $57.98 billion, a PE ratio of 34.63, a P/E/G ratio of 1.51 and a beta of 0.50. Cardinal Health, Inc. has a 12 month low of $180.45 and a 12 month high of $259.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. Cardinal Health’s revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts anticipate that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Cardinal Health Company 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.