Axxcess Wealth Management LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Axxcess Wealth Management LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,940 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAH. Clearstead Trust LLC purchased a new position in Cardinal Health during the 4th quarter valued at about $25,000. Raleigh Capital Management Inc. grew its stake in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Cardinal Health during the 1st quarter valued at about $32,000. Hexagon Capital Partners LLC grew its stake in Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new position in Cardinal Health during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Evercore ISI lowered their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. Argus lowered their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Citigroup lowered their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Robert W. Baird boosted their price target on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Stock Up 1.5 %

Shares of CAH stock opened at $98.35 on Friday. The stock has a 50 day moving average of $98.02 and a 200-day moving average of $103.59. The firm has a market cap 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.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during 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%. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

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

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.