Tower Wealth Partners Inc. Acquires New Position in Cardinal Health, Inc. $CAH

Tower Wealth Partners Inc. acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,341 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. bought a new position in Cardinal Health in the first quarter valued at approximately $26,000. GW&K Investment Management LLC lifted its stake in shares of Cardinal Health by 113.4% in the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Cardinal Health during the 1st quarter valued at $52,000. Garde Capital Inc. bought a new stake in Cardinal Health during the 1st quarter worth $52,000. Finally, Atwood & Palmer Inc. grew its position in Cardinal Health by 57.5% during the 2nd quarter. Atwood & Palmer Inc. now owns 389 shares of the company’s stock worth $65,000 after acquiring an additional 142 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Michelle D. Greene sold 13,500 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $2,009,070.00. Following the transaction, the insider owned 14,976 shares in the company, valued at $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen M. Mason sold 41,575 shares of the business’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 $6,187,191.50. Following the completion of the transaction, the chief executive officer owned 26,085 shares in the company, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Wells Fargo & Company restated an “overweight” rating and set a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. UBS Group restated a “buy” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. 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 assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Cardinal Health Stock Up 1.0%

Shares of Cardinal Health stock opened at $155.72 on Thursday. The stock has a market cap of $37.00 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.30 and a beta of 0.71. Cardinal Health, Inc. has a twelve month low of $106.98 and a twelve month high of $168.44. The company’s fifty day moving average is $151.90 and its 200 day moving average is $151.48.

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

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.5107 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.3%. Cardinal Health’s 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.