Leuthold Group LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,881 shares of the company’s stock after purchasing an additional 5,806 shares during the period. Cardinal Health accounts for approximately 1.4% of Leuthold Group LLC’s investment portfolio, making the stock its 10th biggest holding. Leuthold Group LLC’s holdings in Cardinal Health were worth $14,881,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $6,293,115,000. Wellington Management Group LLP increased its position in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares in the last quarter. Bank of America Corp DE acquired a new position in Cardinal Health during the 2nd quarter valued at about $689,066,000. Legal & General Group Plc purchased a new stake in Cardinal Health in the second quarter valued at about $438,870,000. Finally, Bank of New York Mellon Corp purchased a new stake in Cardinal Health in the second quarter valued at about $308,640,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.
Analysts Set New Price Targets
CAH has been the subject of several recent analyst reports. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 25th. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Mizuho set a $290.00 price objective on shares of Cardinal Health in a research report on Thursday. UBS Group lifted their target price on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Finally, Evercore reiterated an “outperform” rating and issued a $270.00 target price on shares of Cardinal Health in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $274.00.
Check Out Our Latest Research Report on Cardinal Health
Insider Activity
In related news, CEO Jason M. Hollar sold 44,529 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the transaction, the chief executive officer owned 190,603 shares in the company, valued at approximately $45,016,616.54. This represents a 18.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica L. Mayer sold 29,436 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by insiders.
Cardinal Health Price Performance
Shares of CAH stock opened at $273.95 on Tuesday. The business has a fifty day moving average of $241.24 and a 200 day moving average of $223.87. Cardinal Health, Inc. has a 1 year low of $180.45 and a 1 year high of $286.29. The firm has a market capitalization of $63.44 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.53.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.32. The business had revenue of $67.51 billion for the quarter, compared to the consensus estimate of $66.67 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 12.86 earnings per share for the current year.
Cardinal Health Company Profile
Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.
The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.
Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.
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