Institutional investors are adjusting their holdings in Cardinal Health (CAH). Paragon Capital increased its stake by 0.7%, now owning 14,758 shares worth $1,451,000. Clifford Capital raised its stake by 21.3%, owning 140,027 shares valued at $13,767,000. Verity & Verity LLC invested $239,000 in Cardinal Health, while Vienna Insurance Group grew its holdings by 4.7% to 12,690 shares worth $1,248,000. Heritage Wealth Management also acquired shares worth $283,000. Overall, institutional investors hold 87.17% of Cardinal Health’s stock.
Analysts Set New Price Targets
Recent analyst ratings for CAH include:
- StockNews.com: upgraded to strong-buy
- Robert W. Baird: price target raised from $130 to $137
- UBS Group: price target increased from $120 to $125
- Argus: target raised from $115 to $125
- Wells Fargo: target increased from $95 to $101
Currently, CAH has a consensus rating of “Moderate Buy” and an average price target of $119.36.
View Our Latest Stock Report on CAH
Insider Activity at Cardinal Health
Insider Jessica L. Mayer sold 17,896 shares on August 15th at $106.48, totaling $1,905,566.08. She now holds 94,529 shares valued at approximately $10 million. CFO Aaron E. Alt sold 2,323 shares on August 19th at an average price of $108.91, totaling $252,997.93. Insiders sold 113,963 shares worth $12.38 million in the last 90 days, with corporate insiders owning 0.15% of the company.
Cardinal Health Trading Update
On Thursday, NYSE CAH opened at $110.21. Its 50-day moving average is $107.96, and the 200-day average is $103.90. The company has experienced a 12-month low of $86.24 and a high of $116.05, with a market cap of $26.84 billion.
Quarterly Earnings
Cardinal Health reported earnings of $1.84 per share, exceeding estimates by $0.10. Revenue was $59.87 billion, up 12.1% year-over-year, with forecasts suggesting 7.62 EPS for the current fiscal year.
Dividend Announcement
The company will pay a quarterly dividend of $0.506 on October 15th, up from the previous $0.51. This gives an annual dividend of $2.02, yielding 1.84%, with a payout ratio of 89.78%.
Company Overview
Cardinal Health operates globally, providing healthcare products and services, including solutions for pharmacies, hospitals, and clinical laboratories.
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