Avantax Advisory Services Inc. Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Avantax Advisory Services Inc. increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,034 shares of the company’s stock after buying an additional 99 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Cardinal Health were worth $950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CAH. Promus Capital LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in Cardinal Health in the 4th quarter worth approximately $41,000. HHM Wealth Advisors LLC raised its stake in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after buying an additional 144 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after buying an additional 106 shares during the period. Finally, Quarry LP boosted its stake in shares of Cardinal Health by 541.7% in the 3rd quarter. Quarry LP now owns 616 shares of the company’s stock worth $68,000 after buying an additional 520 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $132.09 on Thursday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84. The firm’s 50 day moving average price is $126.94 and its 200-day moving average price is $119.78. The stock has a market cap of $31.91 billion, a P/E ratio of 24.64, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is presently 37.69%.

Analyst Ratings Changes

CAH has been the topic of a number of recent research reports. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Mizuho assumed coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, Argus set a $148.00 target price on Cardinal Health in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $139.36.

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.