IFP Advisors Inc Lowers Position in Cardinal Health, Inc. $CAH

IFP Advisors Inc lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,920 shares of the company’s stock after selling 297 shares during the period. IFP Advisors Inc’s holdings in Cardinal Health were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Callan Family Office LLC purchased a new stake in Cardinal Health during the 2nd quarter worth $756,000. Blair William & Co. IL grew its position in Cardinal Health by 80.2% in the 2nd quarter. Blair William & Co. IL now owns 20,968 shares of the company’s stock worth $3,523,000 after purchasing an additional 9,333 shares during the last quarter. Columbus Macro LLC grew its holdings in Cardinal Health by 1.0% in the 2nd quarter. Columbus Macro LLC now owns 18,013 shares of the company’s stock worth $3,026,000 after buying an additional 187 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Cardinal Health by 3.1% in the second quarter. Maryland State Retirement & Pension System now owns 11,739 shares of the company’s stock worth $1,972,000 after purchasing an additional 354 shares in the last quarter. Finally, Optas LLC bought a new position in Cardinal Health during the 2nd quarter valued at $237,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michelle D. Greene sold 13,500 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the transaction, the insider directly owned 14,976 shares of the company’s stock, valued at $2,228,728.32. This trade represents a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares of the company’s stock, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,676 shares of company stock valued at $40,489,525. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Trading Up 1.0%

Shares of NYSE CAH opened at $155.72 on Thursday. The company has a market capitalization of $37.00 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.30 and a beta of 0.71. The stock has a 50 day moving average of $151.90 and a 200-day moving average of $151.48. Cardinal Health, Inc. has a 12 month low of $106.98 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The business had revenue of $60.16 billion during the quarter, compared to analysts’ expectations of $60.91 billion. During the same period in the previous year, the company posted $1.84 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 1st. Cardinal Health’s payout ratio is 31.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAH shares. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Wells Fargo & Company reissued an “overweight” rating and set a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Evercore ISI reduced their price target on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. Finally, Argus set a $189.00 price objective on Cardinal Health in a research report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $166.00.

About Cardinal Health

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.