Castlekeep Investment Advisors LLC Lowers Holdings in Cardinal Health, Inc. $CAH

Castlekeep Investment Advisors LLC trimmed its stake in Cardinal Health, Inc. (NYSE:CAH) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,521 shares of the company’s stock after selling 2,626 shares during the quarter. Castlekeep Investment Advisors LLC’s holdings in Cardinal Health were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its stake in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $105,000. Simplicity Wealth LLC bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $425,000. Finally, DAVENPORT & Co LLC lifted its position in Cardinal Health by 28.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 8,592 shares of the company’s stock valued at $1,443,000 after acquiring an additional 1,918 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAH. TD Cowen reissued a “buy” rating on shares of Cardinal Health in a report on Tuesday, January 27th. Evercore ISI lifted their price objective on Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Barclays began coverage on Cardinal Health in a research report on Monday, December 8th. They issued an “overweight” rating and a $243.00 target price for the company. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Argus boosted their price objective on shares of Cardinal Health from $211.00 to $232.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.43.

Cardinal Health Trading Down 5.2%

Shares of NYSE CAH opened at $206.71 on Thursday. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $220.27. The firm has a market capitalization of $49.11 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.64. The firm has a 50 day moving average of $206.34 and a 200 day moving average of $179.16.

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.