Axxcess Wealth Management LLC Sells 3,166 Shares of Cardinal Health, Inc. $CAH

Axxcess Wealth Management LLC lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 20.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,141 shares of the company’s stock after selling 3,166 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Cardinal Health were worth $1,906,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. Phoenix Financial Ltd. purchased a new position in Cardinal Health during the second quarter valued at approximately $203,000. Whittier Trust Co. raised its stake in Cardinal Health by 14.5% in the second quarter. Whittier Trust Co. now owns 1,979 shares of the company’s stock worth $332,000 after buying an additional 250 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in Cardinal Health by 5.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 11,600 shares of the company’s stock valued at $1,949,000 after acquiring an additional 573 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CAH. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Mizuho lifted their target price on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $252.00 price target on shares of Cardinal Health in a research report on Friday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Price Performance

NYSE CAH opened at $222.59 on Friday. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.45 and a beta of 0.64. The stock’s fifty day moving average price is $210.86 and its 200 day moving average price is $184.06. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $230.81.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. Research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 29.35%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.