887 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Riverview Trust Co

Riverview Trust Co acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 887 shares of the company’s stock, valued at approximately $99,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth $25,000. Raleigh Capital Management Inc. increased its position in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in Cardinal Health in the fourth quarter valued at about $30,000. Hexagon Capital Partners LLC boosted its holdings in 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 acquiring an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Cardinal Health in the fourth quarter worth about $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $103.13 on Wednesday. The firm has a market cap of $25.12 billion, a PE ratio of 45.84, a PEG ratio of 1.19 and a beta of 0.64. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04. The firm has a fifty day moving average of $100.31 and a 200 day moving average of $104.65.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 EPS. On average, equities analysts predict 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. Investors of record on Monday, July 1st will be issued a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s payout ratio is 89.78%.

Analyst Ratings Changes

Several research firms have recently issued reports on CAH. Robert W. Baird cut their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company cut 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. Argus cut their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Evercore ISI upped their price objective 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. Finally, StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Company 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.