Avantax Advisory Services Inc. Has $1.64 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Avantax Advisory Services Inc. cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,288 shares of the company’s stock after selling 1,896 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Cardinal Health were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new position in Cardinal Health in the 4th quarter worth about $25,000. Cornerstone Planning Group LLC acquired a new position in shares of Cardinal Health during the 3rd quarter worth $26,000. BKM Wealth Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $30,000. Hexagon Capital Partners LLC lifted its stake in shares of Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in Cardinal Health in the fourth quarter worth $36,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAH has been the topic of several recent research reports. SVB Leerink started coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Evercore ISI boosted their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.57.

Cardinal Health Stock Performance

NYSE CAH opened at $99.08 on Friday. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The stock has a market cap of $24.13 billion, a PE ratio of 44.04, a PEG ratio of 1.10 and a beta of 0.71. The firm has a 50-day simple moving average of $106.34 and a 200 day simple moving average of $105.41.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.74 EPS. Research analysts forecast that Cardinal Health, Inc. will post 7.35 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. Shareholders of record on Monday, July 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is 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.