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

ORG Partners LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 70.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,585 shares of the company’s stock after selling 3,723 shares during the period. ORG Partners LLC’s holdings in Cardinal Health were worth $175,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Paragon Capital Management Inc. increased its stake in shares of Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its position in Cardinal Health by 5.0% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after buying an additional 100 shares in the last quarter. Midland Wealth Advisors LLC raised its stake in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after acquiring an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after acquiring an additional 100 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAH. Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley increased their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $112.02 on Wednesday. The stock has a market cap of $27.28 billion, a P/E ratio of 49.79, a P/E/G ratio of 1.57 and a beta of 0.60. The stock’s fifty day moving average is $110.25 and its 200 day moving average is $103.89. Cardinal Health, Inc. has a one year low of $90.19 and a one year high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. Analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.506 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Insider Transactions at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Company 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.