Cardinal Health, Inc. $CAH Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 68.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,717 shares of the company’s stock after selling 10,107 shares during the quarter. AlphaQuest LLC’s holdings in Cardinal Health were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. Pittenger & Anderson Inc. lifted its stake in Cardinal Health by 718.6% in the third quarter. Pittenger & Anderson Inc. now owns 2,865 shares of the company’s stock valued at $450,000 after buying an additional 2,515 shares during the last quarter. Summit Global Investments increased its holdings in shares of Cardinal Health by 27.2% in the 3rd quarter. Summit Global Investments now owns 61,714 shares of the company’s stock worth $9,687,000 after acquiring an additional 13,191 shares during the period. Fidelis Capital Partners LLC lifted its position in Cardinal Health by 296.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 7,924 shares of the company’s stock valued at $1,244,000 after purchasing an additional 5,923 shares during the last quarter. JSF Financial LLC boosted its stake in Cardinal Health by 1.0% during the 3rd quarter. JSF Financial LLC now owns 9,547 shares of the company’s stock valued at $1,499,000 after purchasing an additional 99 shares during the period. Finally, AustralianSuper Pty Ltd grew its position in Cardinal Health by 237.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock worth $106,760,000 after purchasing an additional 478,689 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CAH shares. Leerink Partners set a $240.00 target price on Cardinal Health in a research report on Tuesday, January 13th. UBS Group raised their price target on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Robert W. Baird set a $250.00 target price on shares of Cardinal Health in a research report on Wednesday, January 14th. Finally, Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.43.

Cardinal Health Stock Down 0.5%

Shares of NYSE CAH opened at $217.93 on Wednesday. The stock’s fifty day simple moving average is $206.47 and its 200 day simple moving average is $178.97. The stock has a market capitalization of $51.78 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.49 and a beta of 0.64. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $220.27.

Cardinal Health 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.