abrdn plc Has $79.93 Million Position in Cardinal Health, Inc. (NYSE:CAH)

abrdn plc lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 724,944 shares of the company’s stock after purchasing an additional 16,569 shares during the period. abrdn plc owned 0.30% of Cardinal Health worth $79,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the second quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the second quarter valued at about $29,000. LRI Investments LLC acquired a new stake in shares of Cardinal Health during the 1st quarter worth about $32,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Cardinal Health during the 1st quarter worth about $34,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAH shares. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Robert W. Baird boosted their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Argus upped their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.18.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $110.06 on Wednesday. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05. The firm has a market cap of $26.81 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 1.57 and a beta of 0.60. The business’s fifty day moving average is $111.69 and its 200-day moving average is $104.07.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.506 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.84%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Cardinal Health Profile

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.