Cardinal Health, Inc. (NYSE:CAH) is Orca Investment Management LLC’s 7th Largest Position

Orca Investment Management LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,254 shares of the company’s stock after buying an additional 1,762 shares during the quarter. Cardinal Health accounts for about 3.0% of Orca Investment Management LLC’s portfolio, making the stock its 7th largest holding. Orca Investment Management LLC’s holdings in Cardinal Health were worth $3,344,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAH. Tobam grew its stake in Cardinal Health by 773.4% in the 1st quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after acquiring an additional 43,488 shares during the period. Nomura Holdings Inc. grew its stake in Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after acquiring an additional 24,222 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock valued at $35,160,000 after acquiring an additional 15,663 shares during the period. Finally, Park National Corp OH acquired a new stake in Cardinal Health in the 1st quarter valued at $1,742,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the transaction, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This represents 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 in the last three months. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CAH shares. Argus lifted their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley lifted their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. 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 report on Thursday, August 15th. UBS Group lifted their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Evercore ISI lifted their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.36.

Cardinal Health Trading Down 1.2 %

Shares of CAH opened at $112.51 on Monday. The firm has a market cap of $27.40 billion, a P/E ratio of 50.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $90.19 and a 12-month high of $116.05. The company’s 50-day moving average price is $109.72 and its 200 day moving average price is $103.89.

Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion during 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%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.506 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s payout ratio is currently 89.78%.

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.