Balboa Wealth Partners Takes $221,000 Position in Cardinal Health, Inc. $CAH

Balboa Wealth Partners purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,317 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAH. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cardinal Health in the first quarter valued at about $26,000. Jones Financial Companies Lllp raised its stake in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares during the last quarter. GW&K Investment Management LLC lifted its position in Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $49,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Cardinal Health in the 1st quarter valued at approximately $52,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.7%

Shares of Cardinal Health stock opened at $158.42 on Wednesday. The company has a 50-day moving average of $152.10 and a two-hundred day moving average of $152.15. Cardinal Health, Inc. has a 12-month low of $106.98 and a 12-month high of $168.44. The stock has a market cap of $37.64 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $60.91 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. The company’s revenue was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a $0.5107 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.63%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CEO Stephen M. Mason sold 41,575 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the transaction, the insider owned 14,976 shares of the company’s stock, valued at approximately $2,228,728.32. The trade was a 47.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,676 shares of company stock worth $40,489,525. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAH. Evercore ISI decreased their price target on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research note on Tuesday, August 12th. Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Finally, Leerink Partners boosted their target price on Cardinal Health from $186.00 to $187.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.