LVW Advisors LLC Decreases Position in Cardinal Health, Inc. (NYSE:CAH)

LVW Advisors LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,830 shares of the company’s stock after selling 590 shares during the quarter. LVW Advisors LLC’s holdings in Cardinal Health were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Clearstead Trust LLC acquired a new position in Cardinal Health during the fourth quarter worth $25,000. Raleigh Capital Management Inc. grew its holdings in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares during the period. BKM Wealth Management LLC acquired a new position in Cardinal Health during the fourth quarter worth $30,000. Hexagon Capital Partners LLC grew its holdings in Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Cardinal Health during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research reports. Argus cut 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. Evercore ISI boosted their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Wells Fargo & Company cut 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 note on Monday, April 29th. Robert W. Baird cut their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $97.77 on Tuesday. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04. The stock has a market capitalization of $23.81 billion, a P/E ratio of 43.45, a PEG ratio of 1.11 and a beta of 0.61. The stock has a 50-day simple moving average of $99.78 and a 200-day simple moving average of $104.45.

Cardinal Health (NYSE:CAH) last issued 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. 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 during the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter in the previous year, the business earned $1.74 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date 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 currently 88.89%.

About Cardinal Health

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.