Carnegie Investment Counsel Purchases New Position in Cardinal Health, Inc. $CAH

Carnegie Investment Counsel purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,124 shares of the company’s stock, valued at approximately $357,000.

Several other institutional investors have also bought and sold shares of CAH. GAMMA Investing LLC boosted its stake in Cardinal Health by 28.4% in the first quarter. GAMMA Investing LLC now owns 7,004 shares of the company’s stock worth $965,000 after purchasing an additional 1,549 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock worth $54,000 after purchasing an additional 336 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Cardinal Health by 4.2% in the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company’s stock worth $309,000 after purchasing an additional 90 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in Cardinal Health by 1.3% in the first quarter. Confluence Wealth Services Inc. now owns 8,949 shares of the company’s stock worth $1,203,000 after purchasing an additional 119 shares in the last quarter. Finally, KBC Group NV boosted its stake in Cardinal Health by 31.3% in the first quarter. KBC Group NV now owns 1,063,953 shares of the company’s stock worth $146,581,000 after purchasing an additional 253,526 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company reissued an “overweight” rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research note on Friday. Argus set a $189.00 price objective on Cardinal Health in a research note on Friday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Finally, Leerink Partners upped their price target on Cardinal Health from $186.00 to $187.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Twelve investment 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, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $166.00.

Cardinal Health Trading Up 1.7%

NYSE CAH opened at $161.83 on Monday. The stock has a 50-day simple moving average of $152.75 and a 200 day simple moving average of $153.03. The company has a market capitalization of $38.45 billion, a PE ratio of 25.09, a P/E/G ratio of 1.37 and a beta of 0.71. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, October 1st. Cardinal Health’s dividend payout ratio is currently 31.63%.

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 38,078 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $5,666,767.96. Following the completion of the sale, the insider owned 48,457 shares in the company, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the sale, the insider owned 14,976 shares of the company’s stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 271,676 shares of company stock valued at $40,489,525 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.