Cardinal Health, Inc. $CAH Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 276,429 shares of the company’s stock after selling 14,080 shares during the period. Principal Financial Group Inc. owned about 0.12% of Cardinal Health worth $43,388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAH. Integrated Wealth Concepts LLC boosted its holdings in Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Cardinal Health in the second quarter valued at about $105,000. Simplicity Wealth LLC purchased a new stake in Cardinal Health in the second quarter valued at approximately $425,000. Finally, DAVENPORT & Co LLC increased its stake in Cardinal Health by 28.7% during the second quarter. DAVENPORT & Co LLC now owns 8,592 shares of the company’s stock worth $1,443,000 after purchasing an additional 1,918 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 5.2%

CAH stock opened at $206.71 on Thursday. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $220.27. The business has a fifty day simple moving average of $206.34 and a 200-day simple moving average of $179.16. The company has a market cap of $49.11 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.48 and a beta of 0.64.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Morgan Stanley upped their price objective on Cardinal Health from $224.00 to $245.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of Cardinal Health in a report on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.43.

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.