Ethos Financial Group LLC Invests $564,000 in Cardinal Health, Inc. (NYSE:CAH)

Ethos Financial Group LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,569 shares of the company’s stock, valued at approximately $564,000.

A number of other institutional investors also recently modified their holdings of CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health in the fourth quarter worth about $25,000. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health in the third quarter worth about $26,000. BKM Wealth Management LLC purchased a new stake in Cardinal Health in the fourth quarter worth about $30,000. 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 valued at $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Cardinal Health during the fourth quarter valued at approximately $36,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.6 %

NYSE:CAH traded up $0.62 during trading hours on Thursday, reaching $98.06. The company had a trading volume of 1,792,185 shares, compared to its average volume of 2,279,285. The firm’s 50 day moving average price is $108.11 and its 200-day moving average price is $105.16. The firm has a market cap of $23.88 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.01 and a beta of 0.71. Cardinal Health, Inc. has a 52 week low of $80.90 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.34 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. 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 (DPR) is currently 88.89%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of analyst reports. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Wells Fargo & Company reduced their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Evercore ISI raised their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Finally, UBS Group raised their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $107.00.

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.