AE Wealth Management LLC Sells 12,729 Shares of Cardinal Health, Inc. $CAH

AE Wealth Management LLC lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 58.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,051 shares of the company’s stock after selling 12,729 shares during the quarter. AE Wealth Management LLC’s holdings in Cardinal Health were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Cardinal Health during the second quarter valued at approximately $584,420,000. Acadian Asset Management LLC raised its holdings in Cardinal Health by 92.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after purchasing an additional 807,063 shares during the period. Prudential Financial Inc. lifted its position in Cardinal Health by 476.8% during the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after purchasing an additional 730,209 shares in the last quarter. Voya Investment Management LLC lifted its position in Cardinal Health by 298.3% during the third quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after purchasing an additional 615,398 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Cardinal Health by 237.6% during the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock valued at $106,760,000 after purchasing an additional 478,689 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CAH shares. Wells Fargo & Company raised their price objective on Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Jefferies Financial Group raised their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Mizuho set a $222.00 price objective on shares of Cardinal Health in a research report on Monday, January 12th. Finally, UBS Group lifted their target price on shares of Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.73.

Cardinal Health Price Performance

NYSE CAH opened at $218.69 on Tuesday. The business has a 50 day simple moving average of $206.39 and a two-hundred day simple moving average of $178.56. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $218.93. The stock has a market capitalization of $51.96 billion, a PE ratio of 32.98, a P/E/G ratio of 1.46 and a beta of 0.64.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.