Orca Investment Management LLC Purchases 1,419 Shares of Cardinal Health, Inc. (NYSE:CAH)

Orca Investment Management LLC raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,977 shares of the company’s stock after buying an additional 1,419 shares during the quarter. Cardinal Health comprises about 3.0% of Orca Investment Management LLC’s investment portfolio, making the stock its 7th biggest position. Orca Investment Management LLC’s holdings in Cardinal Health were worth $3,122,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Cornerstone Planning Group LLC acquired a new stake in shares of Cardinal Health during the third quarter worth $26,000. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Cardinal Health during the fourth quarter worth $36,000. Headlands Technologies LLC acquired a new stake in shares of Cardinal Health during the third quarter worth $47,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Cardinal Health during the fourth quarter worth $59,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CAH. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 24th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Barclays initiated coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, UBS Group lifted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.93.

Cardinal Health Trading Down 0.5 %

NYSE:CAH traded down $0.53 during midday trading on Monday, hitting $102.68. 1,116,986 shares of the stock were exchanged, compared to its average volume of 2,239,806. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 1.04 and a beta of 0.68. The business has a 50-day moving average price of $109.51 and a two-hundred day moving average price of $104.85.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.95%. Cardinal Health’s payout ratio is 78.74%.

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.