Ethos Financial Group LLC Purchases New Shares in Cardinal Health, Inc. (NYSE:CAH)

Ethos Financial Group LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,569 shares of the company’s stock, valued at approximately $564,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Cardinal Health during the fourth quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new position in Cardinal Health during the third quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in Cardinal Health during the fourth quarter valued at $30,000. Hexagon Capital Partners LLC lifted 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 valued at $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 2nd. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Evercore ISI raised their price target on shares of 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $107.00.

Cardinal Health Trading Up 0.6 %

Cardinal Health stock traded up $0.62 during midday trading on Thursday, hitting $98.06. 1,792,185 shares of the stock were exchanged, compared to its average volume of 2,279,285. Cardinal Health, Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $116.04. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.01 and a beta of 0.71. The stock’s 50-day simple moving average is $108.11 and its 200 day simple moving average is $105.16.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same period last year, the business earned $1.74 earnings per share. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal 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 given a dividend of $0.5056 per share. 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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.06%. Cardinal Health’s dividend payout ratio (DPR) is currently 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.