5 Best Retirement Stocks To Buy Now

2. Cardinal Health, Inc. (NYSE:CAH)

Dividend Yield as of June 7: 3.68%

Number Of Hedge Fund Holders: 38

Cardinal Health, Inc. (NYSE:CAH) is an American multinational health care services company that engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, and ambulatory surgery centers.

Another dividend aristocrat on our list, Cardinal Health, Inc. (NYSE:CAH) declared a $0.4957 per share quarterly dividend on May 10, up from the previous dividend amount of $0.4908. The dividend will be paid on June 15, to shareholders of the company as of June 1. Cardinal Health, Inc. (NYSE:CAH)’s dividend yield on June 7 stood at 3.68%.

Earlier this May, Evercore ISI analyst Elizabeth Anderson upgraded Cardinal Health, Inc. (NYSE:CAH) to Outperform from In Line, with a price target of $68, up from $55. After looking deeper at the trajectory of its Medical segment for the fiscal year 2023, the analyst came to the conclusion that the business can drive about $16.7 billion in revenue, or about 6% year-over-year growth, and believes this segment is being undervalued by the market.

Cardinal Health, Inc. (NYSE:CAH) was found in the public stock portfolios of 38 hedge funds according to Insider Monkey’s first quarter, down from 39 funds in the prior quarter. Richard S. Pzena’s Pzena Investment Management is the biggest shareholder of the company, with approximately 3 million shares worth $168.59 million.