Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,271 shares of the company’s stock after selling 616 shares during the period. Confluence Wealth Services Inc.’s holdings in Cardinal Health were worth $926,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Clearstead Trust LLC bought a new stake in Cardinal Health during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health in the third quarter worth $26,000. Raleigh Capital Management Inc. grew its stake 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 bought a new position in shares of Cardinal Health in the fourth quarter worth $30,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAH. Wells Fargo & Company decreased their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday. Barclays began coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price target for the company. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target for the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $102.93.

Cardinal Health Stock Up 0.1 %

Shares of NYSE CAH traded up $0.12 during mid-day trading on Tuesday, hitting $103.03. 2,456,082 shares of the company traded hands, compared to its average volume of 2,250,772. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04. The stock has a market capitalization of $25.06 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 1.04 and a beta of 0.68. The business has a 50 day moving average of $109.48 and a two-hundred day moving average of $104.93.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same period in the prior year, the business posted $1.32 earnings per share. Cardinal Health’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

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.