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

Balboa Wealth Partners acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,317 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Wellington Management Group LLP lifted its holdings in Cardinal Health by 1,666.7% in the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company’s stock valued at $328,470,000 after purchasing an additional 2,249,241 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after buying an additional 1,193,983 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in shares of Cardinal Health by 4,935.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock valued at $130,434,000 after buying an additional 927,950 shares during the period. Nuveen LLC acquired a new stake in Cardinal Health during the first quarter worth approximately $106,065,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Cardinal Health in the 1st quarter worth approximately $104,951,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird boosted their price target on Cardinal Health from $197.00 to $203.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Argus set a $189.00 target price on Cardinal Health in a research note on Friday, August 22nd. Evercore ISI decreased their price target on Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. UBS Group restated a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.00.

Insider Activity at Cardinal Health

In other news, insider Ola M. Snow sold 28,151 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the sale, the insider owned 15,431 shares of the company’s stock, valued at $2,298,293.14. This represents a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle D. Greene sold 13,500 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the transaction, the insider directly owned 14,976 shares in the company, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 over the last quarter. Company insiders own 0.12% of the company’s stock.

Cardinal Health Trading Up 0.7%

CAH stock opened at $158.42 on Wednesday. The company 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. The stock has a 50-day moving average price of $152.10 and a two-hundred day moving average price of $152.15. Cardinal Health, Inc. has a 12-month low of $106.98 and a 12-month high of $168.44.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 EPS 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 company had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same period last year, the business posted $1.84 EPS. The company’s quarterly 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. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis 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%.

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.