Parallel Advisors LLC Buys 221 Shares of Cardinal Health, Inc. $CAH

Parallel Advisors LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,732 shares of the company’s stock after acquiring an additional 221 shares during the period. Parallel Advisors LLC’s holdings in Cardinal Health were worth $459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAH. Tidal Investments LLC increased its holdings in Cardinal Health by 23.9% in the 4th quarter. Tidal Investments LLC now owns 20,105 shares of the company’s stock valued at $2,369,000 after acquiring an additional 3,882 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Cardinal Health by 3.6% in the 4th quarter. Vident Advisory LLC now owns 7,101 shares of the company’s stock worth $840,000 after buying an additional 247 shares during the last quarter. Waverly Advisors LLC increased its holdings in shares of Cardinal Health by 8.5% in the 4th quarter. Waverly Advisors LLC now owns 3,098 shares of the company’s stock worth $366,000 after buying an additional 243 shares during the last quarter. PharVision Advisers LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth about $237,000. Finally, Focus Partners Advisor Solutions LLC increased its holdings in shares of Cardinal Health by 1.4% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 6,650 shares of the company’s stock worth $786,000 after buying an additional 95 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 38,078 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the completion of the sale, the insider owned 48,457 shares of the company’s stock, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle D. Greene sold 13,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 14,976 shares of the company’s stock, valued at $2,228,728.32. The trade was a 47.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,676 shares of company stock worth $40,489,525. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CAH shares. Argus set a $189.00 target price on shares of Cardinal Health in a report on Friday, August 22nd. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Evercore ISI reduced their target price on shares of Cardinal Health from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $185.00 target price (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.93.

Cardinal Health Price Performance

Cardinal Health stock opened at $149.56 on Friday. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.73. Cardinal Health, Inc. has a 1 year low of $106.54 and a 1 year high of $168.44. The firm has a 50-day moving average of $153.06 and a two-hundred day moving average of $148.39.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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. The company had revenue of $60.16 billion during the quarter, compared to analysts’ expectations of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health’s dividend payout ratio is presently 31.63%.

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.