Empowered Funds LLC Takes Position in Cardinal Health, Inc. $CAH

Empowered Funds LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, HoldingsChannel reports. The fund acquired 103,576 shares of the company’s stock, valued at approximately $24,552,000.

Several other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its position in Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the period. Jones Financial Companies Lllp increased its position in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $1,935,000. Cerity Partners LLC lifted its holdings in shares of Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after buying an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC lifted its holdings in shares of Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after buying an additional 2,646 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Down 1.4%

Shares of CAH stock opened at $235.01 on Friday. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The stock has a market cap of $54.66 billion, a P/E ratio of 32.50, a P/E/G ratio of 1.43 and a beta of 0.49. The business has a fifty day simple moving average of $232.84 and a 200-day simple moving average of $218.31.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 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 business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same period in the previous year, the firm earned $2.08 EPS. The business’s revenue for the quarter 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. On average, sell-side analysts anticipate 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 will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 28.49%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAH. Robert W. Baird upped their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Morgan Stanley boosted their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Weiss Ratings cut shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Finally, UBS Group boosted their price objective on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $266.56.

Insider Buying and Selling at Cardinal Health

In related news, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at $18,341,790.45. The trade was a 8.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen M. Mason sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the sale, the chief executive officer directly owned 18,061 shares in the company, valued at approximately $4,269,620.40. The trade was a 65.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by insiders.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.