Axxcess Wealth Management LLC Invests $1.43 Million in Cardinal Health, Inc. (NYSE:CAH)

Axxcess Wealth Management LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,349 shares of the company's stock, valued at approximately $1,426,000.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $246,748,000. Marshall Wace LLP increased its position in shares of Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health during the fourth quarter worth $141,963,000. GAMMA Investing LLC grew its stake in Cardinal Health by 17,589.1% in the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after purchasing an additional 959,486 shares during the period. Finally, Junto Capital Management LP bought a new position in Cardinal Health in the 4th quarter valued at $92,811,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

NYSE CAH traded down $1.30 during trading on Friday, reaching $160.87. The company's stock had a trading volume of 1,314,182 shares, compared to its average volume of 2,240,077. The firm has a fifty day moving average of $157.45 and a 200 day moving average of $138.46. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $168.44. The stock has a market capitalization of $38.40 billion, a PE ratio of 25.10, a P/E/G ratio of 1.61 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the prior year, the business earned $2.08 earnings per share. Cardinal Health's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.27%. Cardinal Health's dividend payout ratio (DPR) is presently 31.83%.

Analysts Set New Price Targets

CAH has been the topic of a number of research analyst reports. Mizuho boosted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Robert W. Baird lifted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $157.43.

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.