Machina Capital S.A.S. Boosts Stake in Cardinal Health, Inc. $CAH

Machina Capital S.A.S. grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 248.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,054 shares of the company’s stock after acquiring an additional 19,280 shares during the period. Machina Capital S.A.S.’s holdings in Cardinal Health were worth $4,246,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

CAH has been the subject of several recent analyst reports. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Robert W. Baird set a $250.00 price target on Cardinal Health in a research note on Wednesday, January 14th. Evercore ISI upped their price objective on Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. TD Cowen reiterated a “buy” rating on shares of Cardinal Health in a research report on Tuesday, January 27th. Finally, Jefferies Financial Group boosted their price target on Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $230.43.

Cardinal Health Price Performance

NYSE:CAH opened at $217.93 on Wednesday. The firm has a market capitalization of $51.78 billion, a P/E ratio of 32.87, a P/E/G ratio of 1.49 and a beta of 0.64. The business has a 50 day simple moving average of $206.47 and a 200 day simple moving average of $178.97. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $220.27.

About Cardinal Health

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.