T. Rowe Price Investment Management Inc. Makes New $104.95 Million Investment in Cardinal Health, Inc. $CAH

T. Rowe Price Investment Management Inc. acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 761,781 shares of the company’s stock, valued at approximately $104,951,000. T. Rowe Price Investment Management Inc. owned approximately 0.32% of Cardinal Health as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its holdings in Cardinal Health by 5.3% in the 4th quarter. NewEdge Advisors LLC now owns 12,429 shares of the company’s stock worth $1,470,000 after purchasing an additional 622 shares in the last quarter. First Trust Advisors LP lifted its holdings in Cardinal Health by 39.9% in the 4th quarter. First Trust Advisors LP now owns 222,764 shares of the company’s stock worth $26,346,000 after purchasing an additional 63,535 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cardinal Health by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,848 shares of the company’s stock worth $146,517,000 after purchasing an additional 15,212 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Cardinal Health by 40.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,342 shares of the company’s stock worth $1,578,000 after purchasing an additional 3,869 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Cardinal Health by 253.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,358 shares of the company’s stock worth $279,000 after purchasing an additional 1,690 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the transaction, the insider owned 48,457 shares in the company, valued at $7,211,370.74. The trade was a 44.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 107,705 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.90, for a total value of $16,037,274.50. Following the transaction, the chief executive officer owned 235,901 shares of the company’s stock, valued at approximately $35,125,658.90. The trade was a 31.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 over the last quarter. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAH. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Leerink Partners lowered their price target on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Evercore ISI reduced their price objective on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Finally, Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.20.

Cardinal Health Stock Performance

NYSE CAH opened at $151.7360 on Friday. The company has a market cap of $36.23 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.29 and a beta of 0.67. The business’s 50 day moving average price is $159.28 and its 200-day moving average price is $145.17. Cardinal Health, Inc. has a fifty-two week low of $106.54 and a fifty-two week high of $168.44.

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

Cardinal Health Dividend Announcement

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

About Cardinal Health

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.