Cardinal Health, Inc. $CAH Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Cardinal Health stake by 88% in the third quarter, selling 17,103 shares and retaining 2,323 shares valued at approximately $517,000. Institutional investors and hedge funds collectively own 87.17% of the company.
• Cardinal Health insiders sold 210,271 shares worth about $49.6 million over the past three months, including significant sales by CEO Jason Hollar and Chief Accounting Officer Mary Scherer.
• Cardinal Health reported quarterly EPS of $2.91, exceeding estimates of $2.42, while revenue rose 5.8% year over year to $63.67 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $269.38, compared with a recent share price of $249.47.

Axxcess Wealth Management LLC reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 88.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,323 shares of the company's stock after selling 17,103 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cardinal Health were worth $517,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its position in Cardinal Health by 2.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,404 shares of the company's stock worth $312,000 after purchasing an additional 39 shares in the last quarter. LWM Advisors Inc. boosted its holdings in Cardinal Health by 4.4% during the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock worth $244,000 after buying an additional 43 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Cardinal Health by 2.5% during the second quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company's stock worth $426,000 after buying an additional 43 shares in the last quarter. Annex Advisory Services LLC boosted its holdings in Cardinal Health by 1.5% during the third quarter. Annex Advisory Services LLC now owns 2,914 shares of the company's stock worth $648,000 after buying an additional 44 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its position in Cardinal Health by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after buying an additional 49 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Mary C. Scherer sold 2,302 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the transaction, the chief accounting officer owned 2,811 shares of the company's stock, valued at $667,303.29. This represents a 45.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason Hollar sold 44,529 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the transaction, the chief executive officer owned 190,603 shares of the company's stock, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by company insiders.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $249.47 on Monday. Cardinal Health, Inc. has a 1 year low of $158.70 and a 1 year high of $259.21. The firm has a market capitalization of $57.77 billion, a PE ratio of 34.50, a P/E/G ratio of 1.50 and a beta of 0.50. The business's 50 day moving average price is $236.46 and its 200-day moving average price is $223.81.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during 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 business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a $0.5158 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. Cardinal Health's payout ratio is currently 28.49%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent analyst reports. Bank of America lifted their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Citigroup upped their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Mizuho increased their target price on shares of Cardinal Health from $250.00 to $280.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 20th. Evercore restated an "outperform" rating and set a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus target price of $269.38.

Cardinal Health Company 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.

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