Cardinal Health, Inc. $CAH Shares Purchased by WD Rutherford LLC

WD Rutherford LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 103.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,907 shares of the company’s stock after buying an additional 3,513 shares during the period. WD Rutherford LLC’s holdings in Cardinal Health were worth $1,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Verdence Capital Advisors LLC raised its stake in Cardinal Health by 1.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,879 shares of the company’s stock valued at $3,756,000 after purchasing an additional 291 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Cardinal Health by 72.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 3,943 shares of the company’s stock valued at $877,000 after purchasing an additional 1,663 shares in the last quarter. Westover Capital Advisors LLC boosted its stake in Cardinal Health by 53.7% during the 3rd quarter. Westover Capital Advisors LLC now owns 12,174 shares of the company’s stock worth $2,709,000 after purchasing an additional 4,254 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Cardinal Health by 41.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,861 shares of the company’s stock worth $1,304,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Access Investment Management LLC grew its holdings in shares of Cardinal Health by 23.9% during the third quarter. Access Investment Management LLC now owns 2,673 shares of the company’s stock worth $595,000 after buying an additional 516 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAH. TD Cowen increased their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Morgan Stanley boosted their price target 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. Evercore reaffirmed an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research note on Wednesday, August 12th. Robert W. Baird boosted their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $269.38.

Cardinal Health Stock Down 2.0%

Shares of CAH stock opened at $246.52 on Wednesday. The firm’s 50-day moving average is $236.78 and its two-hundred day moving average is $221.59. Cardinal Health, Inc. has a 12 month low of $161.64 and a 12 month high of $259.21.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. 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. As a group, equities analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the sale, the insider owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 80,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the sale, the chief executive officer directly owned 235,132 shares of the company’s stock, valued at approximately $55,430,017.68. This trade represents a 25.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Cardinal Health 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.