Cardinal Health, Inc. (CAH) Shares Sold by Orleans Capital Management Corp LA

Orleans Capital Management Corp LA lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,484 shares of the company’s stock after selling 25 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Cardinal Health were worth $1,596,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CAH. BlackRock Inc. grew its stake in Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock worth $1,748,835,000 after purchasing an additional 19,566,764 shares in the last quarter. Franklin Resources Inc. grew its stake in Cardinal Health by 72.1% in the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after purchasing an additional 2,632,836 shares in the last quarter. FMR LLC grew its stake in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after purchasing an additional 1,895,089 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Cardinal Health by 71.4% in the second quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock worth $277,191,000 after purchasing an additional 1,482,285 shares in the last quarter. Finally, HealthCor Management L.P. bought a new position in Cardinal Health in the second quarter worth approximately $84,496,000. 87.98% of the stock is currently owned by institutional investors.

Cardinal Health, Inc. (NYSE CAH) traded down 2.0113% during mid-day trading on Friday, hitting $64.9959. The stock had a trading volume of 2,124,104 shares. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.88. The firm has a 50-day moving average of $67.26 and a 200-day moving average of $72.98. The stock has a market cap of $20.57 billion, a P/E ratio of 16.1280 and a beta of 0.86.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The firm had revenue of $32.97 billion during the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post $4.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.79%. Cardinal Health’s payout ratio is currently 45.79%.

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CAH has been the topic of several research analyst reports. BidaskClub cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. UBS AG reissued a “neutral” rating and issued a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group dropped their price objective on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $77.00 price objective on shares of Cardinal Health in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.54.

Cardinal Health Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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