Hsbc Holdings PLC Increases Position in Cardinal Health, Inc. $CAH

Hsbc Holdings PLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 4.8% in the second quarter, HoldingsChannel.com reports. The fund owned 544,654 shares of the company’s stock after buying an additional 24,810 shares during the period. Hsbc Holdings PLC’s holdings in Cardinal Health were worth $129,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cardinal Health in the fourth quarter worth about $26,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp raised 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 buying an additional 14,034 shares during the last quarter. Palladiem LLC purchased a new stake in shares of Cardinal Health in the 4th quarter valued at $28,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Cardinal Health during the first quarter worth $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $238.00 on Wednesday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 32.92, a PEG ratio of 1.24 and a beta of 0.49. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30. The company has a 50 day moving average price of $232.34 and a 200 day moving average price of $218.18.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue 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. Research analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio is 28.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAH. JPMorgan Chase & Co. upped their target price on Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings lowered Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. William Blair began coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Morgan Stanley lifted their price objective on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 target price on shares of Cardinal Health in a report on Tuesday, August 11th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.56.

Insider Buying and Selling at Cardinal Health

In other news, CAO Mary C. Scherer sold 2,302 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total value of $546,471.78. Following the completion of the transaction, the chief accounting officer owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 29,436 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the sale, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.

About Cardinal Health

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.