Meridian Wealth Management LLC Sells 3,572 Shares of Cardinal Health, Inc. $CAH

Meridian Wealth Management LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 42.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,775 shares of the company’s stock after selling 3,572 shares during the period. Meridian Wealth Management LLC’s holdings in Cardinal Health were worth $746,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its holdings in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cardinal Health by 2.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,803 shares of the company’s stock valued at $5,511,000 after purchasing an additional 690 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $105,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Cardinal Health in the second quarter worth about $425,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CAH shares. Leerink Partners set a $240.00 price objective on Cardinal Health in a research report on Tuesday, January 13th. Robert W. Baird set a $250.00 price target on Cardinal Health in a research report on Wednesday, January 14th. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $244.00 in a report on Friday, January 9th. Evercore ISI raised their target price on shares of Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $230.43.

Cardinal Health Price Performance

Shares of CAH opened at $217.93 on Wednesday. The firm has a 50 day simple moving average of $206.47 and a two-hundred day simple moving average of $178.97. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $220.27. The company has a market cap 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.

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.