Great Diamond Partners LLC Has $1.77 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

30 Oct 2024, 08:40 by Amy Steele · The Cerbat Gem

Great Diamond Partners LLC cut its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,043 shares of the company’s stock after selling 2,020 shares during the period. Great Diamond Partners LLC’s holdings in Cardinal Health were worth $1,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paragon Capital Management Inc. raised its stake in Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the period. Midland Wealth Advisors LLC boosted its position in Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of Cardinal Health by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAH shares. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Argus raised their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI boosted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. UBS Group increased their target price on Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.18.

Get Our Latest Research Report on Cardinal Health

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

Cardinal Health Trading Down 0.7 %

Shares of Cardinal Health stock opened at $110.06 on Wednesday. Cardinal Health, Inc. has a twelve month low of $90.19 and a twelve month high of $116.05. The firm’s 50-day moving average price is $111.69 and its 200 day moving average price is $104.07. The firm has a market capitalization of $26.81 billion, a PE ratio of 48.92, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

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

Cardinal Health Company Profile

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