Axxcess Wealth Management LLC Has $2.57 Million Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Axxcess Wealth Management LLC increased its stake in Cardinal Health, Inc. by 47.9%, owning 15,307 shares valued at approximately $2.57 million.
• Cardinal Health reported $2.08 earnings per share for the last quarter, surpassing analysts' expectations while generating a revenue of $60.16 billion.
• The company recently announced a quarterly dividend of $0.5107 per share, translating to an annualized yield of 1.3% and a payout ratio of 31.63%.

Axxcess Wealth Management LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 47.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,307 shares of the company's stock after purchasing an additional 4,958 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cardinal Health were worth $2,572,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after acquiring an additional 1,193,983 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock worth $433,012,000 after acquiring an additional 105,154 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Cardinal Health by 1,666.7% during the 1st quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after acquiring an additional 2,249,241 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cardinal Health by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,654,036 shares of the company's stock worth $227,877,000 after acquiring an additional 52,714 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cardinal Health by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,788 shares of the company's stock worth $171,749,000 after acquiring an additional 7,940 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $155.72 on Thursday. The stock has a fifty day moving average price of $151.90 and a 200-day moving average price of $151.48. The company has a market cap of $37.00 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.30 and a beta of 0.71. Cardinal Health, Inc. has a fifty-two week low of $106.98 and a fifty-two week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results 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. The firm had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Insider Activity

In other news, insider Michelle D. Greene sold 13,500 shares of the company's stock in a transaction 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 in the company, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen M. Mason sold 41,575 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. This represents a 61.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,676 shares of company stock worth $40,489,525. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CAH. Weiss Ratings reissued a "buy (b)" rating on shares of Cardinal Health in a report on Wednesday, October 8th. Robert W. Baird boosted their target price on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a research note on Tuesday, August 12th. Argus set a $189.00 price target on Cardinal Health in a research note on Friday, August 22nd. Finally, Evercore ISI reduced their price target on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.00.

Cardinal Health Company Profile

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.

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