AXS Investments LLC Purchases New Shares in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• AXS Investments LLC has invested approximately $1.41 million in Cardinal Health, acquiring 10,206 shares of the company's stock during the first quarter.
• Leading institutional investors have increased their stakes in Cardinal Health, with Principal Financial Group increasing its holdings by 5.3%.
• Analysts have responded positively, with Evercore ISI raising its price target on Cardinal Health from $175.00 to $180.00, signaling strong confidence in the company's future performance.

AXS Investments LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,206 shares of the company's stock, valued at approximately $1,406,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAH. Principal Financial Group Inc. grew its stake in shares of Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after purchasing an additional 15,956 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after buying an additional 457 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after purchasing an additional 2,694 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after purchasing an additional 336 shares during the last quarter. Finally, North Capital Inc. purchased a new position in Cardinal Health in the 1st quarter valued at about $83,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Up 2.6%

CAH traded up $4.03 on Friday, reaching $157.44. The company's stock had a trading volume of 1,634,303 shares, compared to its average volume of 1,771,020. The stock has a 50 day moving average of $160.05 and a two-hundred day moving average of $143.75. Cardinal Health, Inc. has a fifty-two week low of $98.07 and a fifty-two week high of $168.44. The company has a market capitalization of $37.58 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.52 and a beta of 0.67.

Analyst Ratings Changes

Several research firms have recently weighed in on CAH. Wall Street Zen downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley lifted their target price on Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Bank of America boosted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Robert W. Baird raised their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Citigroup restated a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

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.