Axxcess Wealth Management LLC Invests $217,000 in Cardinal Health, Inc. (NYSE:CAH)

Axxcess Wealth Management LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,940 shares of the company’s stock, valued at approximately $217,000.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $258,499,000. California Public Employees Retirement System grew its stake in shares of Cardinal Health by 118.9% during the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after purchasing an additional 823,520 shares during the period. Acadian Asset Management LLC grew its stake in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after purchasing an additional 598,002 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Cardinal Health during the 1st quarter valued at about $56,454,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $464,800,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Cardinal Health stock opened at $98.35 on Friday. The stock has a market capitalization of $23.96 billion, a PE ratio of 43.71, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04. The business has a 50 day simple moving average of $98.02 and a 200-day simple moving average of $103.59.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is 89.78%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAH. Argus lowered their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Evercore ISI lowered their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company cut their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Citigroup cut their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Robert W. Baird boosted their target price on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

Cardinal Health 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.