WESPAC Advisors LLC Purchases Shares of 6,581 Cardinal Health, Inc. $CAH

Key Points

• WESPAC Advisors LLC recently purchased 6,581 shares of Cardinal Health, Inc. valued at approximately $1,106,000, during the second quarter.
• Cardinal Health's quarterly earnings exceeded analysts' expectations with reported earnings per share of $2.08, beating the consensus estimate of $2.03.
• The company also announced a quarterly dividend of $0.5107 per share, which will be paid on October 15th, representing an annualized yield of 1.3%.

WESPAC Advisors LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,581 shares of the company's stock, valued at approximately $1,106,000.

Several other hedge funds also recently added to or reduced their stakes in CAH. Principal Financial Group Inc. grew its position in shares of Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after acquiring an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Cardinal Health by 17.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after acquiring an additional 457 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after acquiring an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Cardinal Health by 569.5% during the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after acquiring an additional 336 shares during the last quarter. Finally, North Capital Inc. purchased a new position in shares of Cardinal Health during the first quarter worth approximately $83,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird raised their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating 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. Weiss Ratings restated a "buy (b)" rating on shares of Cardinal Health in a research report on Saturday, September 27th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $166.00.

Cardinal Health Price Performance

NYSE:CAH opened at $156.55 on Wednesday. The firm's fifty day moving average price is $152.03 and its 200 day moving average price is $150.71. Cardinal Health, Inc. has a 1-year low of $106.98 and a 1-year high of $168.44. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data 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. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same period last year, the firm posted $1.84 EPS. Cardinal Health's quarterly revenue was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. Cardinal Health's dividend payout ratio (DPR) is 31.63%.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 35,901 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total value of $5,386,586.04. Following the completion of the sale, the chief executive officer owned 200,000 shares of the company's stock, valued at approximately $30,008,000. This trade represents a 15.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the firm'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 completion of the sale, the insider directly owned 14,976 shares of the company's stock, valued at approximately $2,228,728.32. This trade represents a 47.41% 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 in the last quarter. Corporate insiders own 0.12% of the company's stock.

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.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.