Axecap Investments LLC Makes New $2.49 Million Investment in Cardinal Health, Inc. $CAH

Axecap Investments LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,172 shares of the company’s stock, valued at approximately $2,486,000. Cardinal Health accounts for approximately 1.5% of Axecap Investments LLC’s holdings, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. BlackRock Inc. acquired a new stake in Cardinal Health during the second quarter worth about $6,293,115,000. Wellington Management Group LLP lifted its stake in shares of Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after purchasing an additional 10,584,119 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Cardinal Health during the 2nd quarter worth about $689,066,000. Legal & General Group Plc purchased a new stake in shares of Cardinal Health during the 2nd quarter worth about $438,870,000. Finally, Bank of New York Mellon Corp acquired a new stake in Cardinal Health during the 2nd quarter worth approximately $308,640,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michelle Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, the insider owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen Mason sold 35,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the transaction, the chief executive officer directly owned 18,061 shares of the company’s stock, valued at $4,269,620.40. This represents a 65.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a report on Tuesday, August 11th. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Morgan Stanley boosted their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Robert W. Baird increased their price objective 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. Finally, Citigroup raised their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $269.38.

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 company has a market capitalization of $59.54 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. The firm’s fifty day moving average price is $235.21 and its 200 day moving average price is $222.94.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a $0.5158 dividend. 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 payout ratio is 28.49%.

Cardinal Health Profile

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.