Confluence Wealth Services Inc. Sells 616 Shares of Cardinal Health, Inc. (NYSE:CAH)

Confluence Wealth Services Inc. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in Cardinal Health in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health during the third quarter worth approximately $26,000. Raleigh Capital Management Inc. increased its stake in shares of 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 purchasing an additional 268 shares during the period. BKM Wealth Management LLC bought a new position in shares of Cardinal Health during the fourth quarter worth approximately $30,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of 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 purchasing an additional 118 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. SVB Leerink assumed coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Wells Fargo & Company lowered their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $102.93.

Cardinal Health Stock Up 0.1 %

Shares of CAH stock traded up $0.12 during trading hours on Tuesday, reaching $103.03. The company’s stock had a trading volume of 2,456,082 shares, compared to its average volume of 2,250,772. The firm’s 50 day simple moving average is $109.48 and its 200-day simple moving average is $104.93. The company 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. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04.

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

Cardinal Health Dividend Announcement

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

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.