Wealthcare Advisory Partners LLC Buys Shares of 2,789 Cardinal Health, Inc. (NYSE:CAH)

Wealthcare Advisory Partners LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,789 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also modified their holdings of CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health in the 4th quarter worth about $25,000. Raleigh Capital Management Inc. lifted its position in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its position in Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in Cardinal Health in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAH shares. Evercore ISI boosted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Argus decreased their price target 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. Wells Fargo & Company cut their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 24th. Finally, Robert W. Baird dropped their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Trading Down 1.3 %

CAH stock opened at $98.32 on Monday. The firm has a market cap of $23.95 billion, a PE ratio of 43.70, a P/E/G ratio of 1.11 and a beta of 0.64. The business’s 50-day moving average price is $99.88 and its two-hundred day moving average price is $104.48. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is 88.89%.

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.