Brendel Financial Advisors LLC Buys New Position in Cardinal Health, Inc. $CAH

Key Points

• Brendel Financial Advisors LLC acquired a new stake in Cardinal Health, purchasing 20,467 shares valued at approximately $3.44 million, which represents about 1.9% of their portfolio.
• Insider sales of Cardinal Health stock have occurred recently, with notable transactions including CEO Stephen M. Mason selling 41,575 shares for approximately $6.19 million.
• The company announced a quarterly dividend of $0.5107 per share, representing a yield of 1.4%, with the payment scheduled for October 15th.

Brendel Financial Advisors LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,467 shares of the company's stock, valued at approximately $3,438,000. Cardinal Health accounts for about 1.9% of Brendel Financial Advisors LLC's holdings, making the stock its 19th biggest holding.

Several other hedge funds also recently bought and sold shares of CAH. Wellington Management Group LLP boosted its stake in Cardinal Health by 1,666.7% during the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after buying an additional 2,249,241 shares during the period. JPMorgan Chase & Co. boosted its stake in Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after buying an additional 1,193,983 shares during the period. GAMMA Investing LLC boosted its stake in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after buying an additional 959,486 shares during the period. Zurich Insurance Group Ltd FI boosted its stake in 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 worth $130,434,000 after buying an additional 927,950 shares during the period. Finally, Nuveen LLC purchased a new position in Cardinal Health during the first quarter worth about $106,065,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CAH shares. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a research note on Tuesday, August 12th. Bank of America increased their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Robert W. Baird increased their price target on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Finally, Evercore ISI lowered 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. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.93.

Cardinal Health Price Performance

Shares of CAH traded up $5.14 during mid-day trading on Tuesday, reaching $152.61. 1,411,404 shares of the company's stock were exchanged, compared to its average volume of 2,385,213. The business's fifty day simple moving average is $152.78 and its 200-day simple moving average is $148.84. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44. The stock has a market capitalization of $36.26 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same period last year, the firm posted $1.84 EPS. Cardinal Health's quarterly revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health's payout ratio is presently 31.63%.

Insider Activity at Cardinal Health

In other news, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the completion of the transaction, the insider owned 48,457 shares of the company's stock, valued at $7,211,370.74. The trade was a 44.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 35,901 shares of Cardinal Health stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total value of $5,386,586.04. Following the transaction, the chief executive officer directly owned 200,000 shares of the company's stock, valued at $30,008,000. This trade represents a 15.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,676 shares of company stock worth $40,489,525. 0.12% of the stock is currently owned by insiders.

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.