Avantax Planning Partners Inc. Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Avantax Planning Partners Inc. decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,604 shares of the company’s stock after selling 142 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Cardinal Health were worth $262,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on CAH. Argus reduced their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Wells Fargo & Company lowered their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. UBS Group lifted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Evercore ISI increased their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.57.

Cardinal Health Stock Up 0.4 %

Shares of Cardinal Health stock traded up $0.34 during trading hours on Friday, reaching $96.39. 1,206,966 shares of the company’s stock were exchanged, compared to its average volume of 2,037,521. The business has a fifty day moving average of $104.75 and a two-hundred day moving average of $105.43. The company has a market capitalization of $23.48 billion, a P/E ratio of 42.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.71. Cardinal Health, Inc. has a 1 year low of $80.90 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. Cardinal Health’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.5056 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.10%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is presently 88.89%.

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.