ORG Partners LLC Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

ORG Partners LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 88.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 531 shares of the company’s stock after selling 4,105 shares during the period. ORG Partners LLC’s holdings in Cardinal Health were worth $60,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Cardinal Health in the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Cardinal Health in the 4th quarter worth approximately $30,000. YHB Investment Advisors Inc. purchased a new position in Cardinal Health in the 1st quarter worth approximately $32,000. Finally, Hexagon Capital Partners LLC lifted its holdings in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded down $0.41 during trading hours on Friday, hitting $94.05. The company’s stock had a trading volume of 1,247,018 shares, compared to its average volume of 2,193,976. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The firm has a fifty day moving average of $98.61 and a 200-day moving average of $104.12. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 41.98, a P/E/G ratio of 1.05 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 2.15%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Robert W. Baird upped their price objective on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Argus decreased their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company decreased their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Finally, Evercore ISI decreased their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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.