Axa S.A. Has $35.12 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Axa S.A. lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 182.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 465,097 shares of the company’s stock after acquiring an additional 300,469 shares during the period. Axa S.A. owned approximately 0.18% of Cardinal Health worth $35,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Cardinal Health by 4.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock valued at $14,159,000 after buying an additional 7,431 shares during the last quarter. USS Investment Management Ltd grew its position in shares of Cardinal Health by 13.8% during the 4th quarter. USS Investment Management Ltd now owns 89,751 shares of the company’s stock worth $6,899,000 after buying an additional 10,900 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Cardinal Health during the 1st quarter worth approximately $692,000. Aviva PLC boosted its position in Cardinal Health by 23.3% during the 4th quarter. Aviva PLC now owns 261,843 shares of the company’s stock worth $8,670,000 after acquiring an additional 49,496 shares during the last quarter. Finally, LSV Asset Management boosted its position in Cardinal Health by 0.3% during the 1st quarter. LSV Asset Management now owns 2,456,552 shares of the company’s stock worth $185,470,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the subject of several recent analyst reports. Barclays increased their price objective on Cardinal Health from $80.00 to $85.00 in a report on Friday, June 9th. Evercore ISI increased their price target on Cardinal Health from $90.00 to $95.00 in a research note on Friday, June 9th. Robert W. Baird increased their price target on Cardinal Health from $107.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Credit Suisse Group increased their price target on Cardinal Health from $90.00 to $100.00 in a research note on Monday, June 12th. Finally, Morgan Stanley increased their price objective on Cardinal Health from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 16th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.69.

Insider Activity

In other Cardinal Health news, CAO Mary C. Scherer sold 20,695 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $86.27, for a total value of $1,785,357.65. Following the completion of the sale, the chief accounting officer now owns 10,649 shares in the company, valued at approximately $918,689.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cardinal Health news, CAO Mary C. Scherer sold 20,695 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $86.27, for a total value of $1,785,357.65. Following the completion of the sale, the chief accounting officer now owns 10,649 shares in the company, valued at approximately $918,689.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 30,145 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $90.84, for a total value of $2,738,371.80. Following the completion of the transaction, the insider now directly owns 95,533 shares of the company’s stock, valued at approximately $8,678,217.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,052 shares of company stock worth $8,401,034. 0.17% of the stock is currently owned by insiders.

Cardinal Health Stock Performance

Shares of CAH stock opened at $88.78 on Monday. The company has a market cap of $22.26 billion, a P/E ratio of 89.68, a PEG ratio of 0.93 and a beta of 0.79. Cardinal Health, Inc. has a fifty-two week low of $64.99 and a fifty-two week high of $95.45. The stock has a 50 day simple moving average of $91.02 and a two-hundred day simple moving average of $84.58.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 15th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Cardinal Health had a negative return on equity of 67.01% and a net margin of 0.13%. The business had revenue of $53.45 billion for the quarter, compared to analysts’ expectations of $52.72 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. On average, research analysts predict that Cardinal Health, Inc. will post 6.65 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Tuesday, October 3rd will be given a dividend of $0.5006 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $2.00 annualized dividend and a dividend yield of 2.26%. Cardinal Health’s dividend payout ratio (DPR) is presently 202.02%.

Cardinal Health Company 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.