Arrowstreet Capital LP has recently announced that it has increased stake in Cardinal Health, Inc. (NYSE:CAH) by 20.72%. After grabbing 5.8 million shares, the institutional investor is now in possession of 0.99 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 2.35% having worth around $527.37 million. Moreover, Geode Capital Management LLC increased its share by 61916.0 to have a control over 5.49 million shares. And Fidelity Management & Research Co raised its holdings to 0.53 million shares by acquiring 4.36 million shares or 1.77% of the stake.
Cardinal Health, Inc. (CAH) concluded trading on 12/14/23 at a closing price of $102.69, with 5.14 million shares of worth about $528.15 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.17% during that period and on Thursday the price saw a loss of about -4.96%. Currently the company’s common shares owned by public are about 251.00M shares, out of which, 244.93M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 56 times over the past 12 months. They bought 312,554 shares in 33 of the transactions. In 23 selling transactions, insiders dumped 241,997 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Cardinal Health, Inc. Vanguard Total Stock Market ETF is currently holding 7.84 million shares of worth totaling $713.42 million. The company recently came buying 28938.0 shares which brought its stake up to 3.18% of the company’s outstanding shares. Vanguard 500 Index Fund bought 27150.0 shares, after which its hold over company’s outstanding shares expand to 2.50%, leaving 6.15 million shares with the mutual fund that have a worth of about $559.28 million. Vanguard Mid Cap Index Fund, after buying 5.69 million shares, have now control over 2.31% of the stake in the company. It holds 12896.0 shares of worth $517.9 million.
However, the stock later moved at a day high price of 104.21, or with a loss of -4.96%. Stock saw a price change of -3.47% in past 5 days and over the past one month there was a price change of -0.20%. Year-to-date (YTD), CAH shares are showing a performance of 33.59% which increased to 31.22% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $68.53 but also hit the highest price of $108.85 during that period. The average intraday trading volume for Cardinal Health, Inc. shares is 2.02 million. The stock is currently trading -3.14% below its 20-day simple moving average (SMA20), while that difference is up 3.37% for SMA50 and it goes to 15.81% higher than SMA200.
Arrowstreet Capital LP acquired 5.8 million shares of Cardinal Health, Inc. having value of about $527.37 million. Data submitted at the U.S SEC by Arrowstreet Capital LP revealed that the firm now holds 0.99 million shares in the company valued at close to $102136295.52, or have control over 20.72% stake in the company. Cardinal Health, Inc. (NYSE: CAH) currently have 251.00M outstanding shares and institutions hold larger chunk of about 88.94% of that. Holding of mutual funds in the company is about 41.76% while other institutional holders and individual stake holders have control over 47.88% and 3.58% of the stake respectively.
The stock has a current market capitalization of $25.31B and its 3Y-monthly beta is at 0.74. PE ratio of stock for trailing 12 months is 169.12, while it has posted earnings per share of $0.61 in the same period. Its PEG reads 9.76 and has Quick Ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CAH, volatility over the week remained 1.81% while standing at 1.51% over the month.
Analysts are in expectations that Cardinal Health, Inc. (CAH) stock would likely to be making an EPS of $1.59 in the current quarter, while forecast for next quarter EPS is $1.89 and it is $7.69 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.5 which is $1.74 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 20.43% while it is estimated to increase by 11.26% in next year. EPS is likely to grow at an annualized rate of 17.32% for next 5-years, compared to annual growth of 4.23% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on Dec-15-23 offering an Underweight rating for the stock and assigned a target price of $96 to it.
