ORG Wealth Partners LLC Increases Position in Cardinal Health, Inc. (NYSE:CAH)

ORG Wealth Partners LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 65.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,203 shares of the company's stock after buying an additional 2,861 shares during the period. ORG Wealth Partners LLC's holdings in Cardinal Health were worth $988,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $26,000. Tompkins Financial Corp boosted its holdings in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after buying an additional 128 shares in the last quarter. Promus Capital LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $30,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $32,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CAH shares. Evercore ISI restated an "outperform" rating and issued a $180.00 target price (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Finally, Bank of America increased their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $165.51 on Thursday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $166.03. The stock has a market cap of $39.50 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.84 and a beta of 0.66. The firm has a fifty day moving average price of $148.17 and a 200 day moving average price of $133.48.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter last year, the business earned $2.08 EPS. The business's revenue was up .0% on a year-over-year basis. Sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is 31.51%.

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.

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