Axecap Investments LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 11,172 shares of the company’s stock, valued at approximately $2,486,000. Cardinal Health comprises approximately 1.5% of Axecap Investments LLC’s investment portfolio, making the stock its 27th biggest position.
Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Cardinal Health during the second quarter worth about $308,640,000. First Nebraska Trust Co bought a new stake in Cardinal Health in the 2nd quarter valued at about $20,050,000. Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health in the 2nd quarter valued at about $1,177,000. Stack Financial Management Inc bought a new stake in Cardinal Health in the 2nd quarter valued at about $24,681,000. Finally, NewEdge Advisors LLC boosted its stake in Cardinal Health by 52.9% during the 1st quarter. NewEdge Advisors LLC now owns 33,939 shares of the company’s stock valued at $7,172,000 after purchasing an additional 11,740 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.
Cardinal Health Price Performance
Cardinal Health stock opened at $257.15 on Wednesday. Cardinal Health, Inc. has a 12-month low of $156.81 and a 12-month high of $258.30. The stock has a market capitalization of $59.54 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. The firm has a 50 day simple moving average of $235.21 and a 200-day simple moving average of $222.94.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.
Cardinal Health Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.5158 per share. The ex-dividend date was Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.
Insider Buying and Selling
In other news, insider Jessica Mayer sold 29,436 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the sale, the insider owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by corporate insiders.
Analyst Ratings Changes
CAH has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Evercore reaffirmed an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Leerink Partners set a $292.00 price target on Cardinal Health in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada started coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.38.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.
Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.
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