AXQ Capital LP Has $1.47 Million Position in Cardinal Health, Inc. $CAH

AXQ Capital LP raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 33.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,383 shares of the company’s stock after purchasing an additional 2,335 shares during the period. Cardinal Health accounts for approximately 0.6% of AXQ Capital LP’s investment portfolio, making the stock its 14th biggest position. AXQ Capital LP’s holdings in Cardinal Health were worth $1,473,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its position in Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Carnegie Investment Counsel purchased a new stake in Cardinal Health in the 2nd quarter valued at about $357,000. Focus Partners Advisor Solutions LLC lifted its holdings in Cardinal Health by 12.7% during the second quarter. Focus Partners Advisor Solutions LLC now owns 7,106 shares of the company’s stock worth $1,193,000 after acquiring an additional 803 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Cardinal Health in the 2nd quarter worth about $1,512,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $224.83 on Tuesday. The company has a 50 day simple moving average of $211.88 and a two-hundred day simple moving average of $185.40. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The company has a market capitalization of $52.91 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.45 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same period in the prior year, the firm posted $1.93 EPS. Cardinal Health’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CAH shares. Robert W. Baird set a $252.00 price objective on Cardinal Health in a report on Friday, February 6th. Leerink Partners lifted their price objective on Cardinal Health from $240.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Argus raised their price target on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a research note on Friday, February 6th. Finally, Wells Fargo & Company lifted their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. One research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.20.

Cardinal Health 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.