Axxcess Wealth Management LLC Decreases Position in Cardinal Health, Inc. $CAH

Axxcess Wealth Management LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 20.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,141 shares of the company’s stock after selling 3,166 shares during the period. 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 institutional investors and hedge funds have also recently modified their holdings of CAH. SJS Investment Consulting Inc. boosted its stake in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the period. American Capital Advisory LLC boosted its position in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock valued at $33,000 after buying an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 71 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Cardinal Health in the third quarter valued at about $35,000. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Wells Fargo & Company lifted their price objective on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Price Performance

CAH opened at $222.59 on Friday. The firm has a market cap of $52.38 billion, a PE ratio of 32.03, a P/E/G ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $230.81. The stock has a 50-day moving average price of $210.86 and a 200-day moving average price of $184.06.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 EPS. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

About Cardinal Health

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.