AXS Investments LLC Sells 2,599 Shares of Cardinal Health, Inc. (NYSE:CAH)

AXS Investments LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 18.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,667 shares of the company’s stock after selling 2,599 shares during the quarter. AXS Investments LLC’s holdings in Cardinal Health were worth $1,176,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Commerce Bank raised its position in Cardinal Health by 13.0% during the 4th quarter. Commerce Bank now owns 27,630 shares of the company’s stock valued at $2,785,000 after purchasing an additional 3,186 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after acquiring an additional 32,250 shares in the last quarter. Franklin Resources Inc. lifted its stake in Cardinal Health by 10.1% in the fourth quarter. Franklin Resources Inc. now owns 393,728 shares of the company’s stock worth $39,688,000 after acquiring an additional 36,205 shares during the period. Brandes Investment Partners LP boosted its holdings in Cardinal Health by 2.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock valued at $123,096,000 after acquiring an additional 28,042 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Cardinal Health during the 4th quarter valued at $1,028,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 0.1 %

Shares of NYSE CAH traded up $0.07 during midday trading on Friday, hitting $96.12. The stock had a trading volume of 454,032 shares, compared to its average volume of 2,202,621. The company has a market cap of $23.41 billion, a P/E ratio of 42.72, a PEG ratio of 1.09 and a beta of 0.71. The business’s 50 day moving average is $105.03 and its 200-day moving average is $105.47. Cardinal Health, Inc. has a 52 week low of $80.90 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same period last year, the business posted $1.74 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.10%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s payout ratio is presently 88.89%.

Analyst Ratings Changes

CAH has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Robert W. Baird decreased their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Argus lowered their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Evercore ISI upped their price target on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.57.

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.