Avitas Wealth Management LLC Makes New $1.47 Million Investment in Cardinal Health, Inc. (NYSE:CAH)

Avitas Wealth Management LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,395 shares of the company's stock, valued at approximately $1,466,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the period. Geode Capital Management LLC lifted its holdings in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company's stock valued at $474,203,000 after buying an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock worth $162,976,000 after buying an additional 33,388 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock worth $118,197,000 after buying an additional 346,362 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on CAH shares. Morgan Stanley upped their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday. Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and lifted their price target for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price target on the stock. Finally, Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the company from $140.00 to $150.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average price target of $136.87.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded up $0.57 during midday trading on Friday, hitting $127.62. 1,797,495 shares of the company traded hands, compared to its average volume of 2,327,426. The firm's fifty day moving average price is $122.46 and its 200-day moving average price is $115.14. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84. The stock has a market cap of $30.83 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.58%. Cardinal Health's payout ratio is currently 37.69%.

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.