Cookson Peirce & Co. Inc. Sells 7,855 Shares of Cardinal Health, Inc. $CAH

Cookson Peirce & Co. Inc. lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,307 shares of the company’s stock after selling 7,855 shares during the quarter. Cardinal Health comprises 1.5% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 19th biggest holding. Cookson Peirce & Co. Inc. owned about 0.10% of Cardinal Health worth $37,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Cardinal Health during the 2nd quarter worth approximately $584,420,000. Acadian Asset Management LLC raised 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 purchasing an additional 807,063 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after purchasing an additional 730,209 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Cardinal Health by 298.3% in the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock worth $128,978,000 after purchasing an additional 615,398 shares in the last quarter. 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 valued at $106,760,000 after purchasing an additional 478,689 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Mizuho upped their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. TD Cowen raised their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays initiated coverage on Cardinal Health in a report on Monday, December 8th. They set an “overweight” rating and a $243.00 price objective for the company. Finally, Evercore reissued an “outperform” rating and issued a $260.00 price objective on shares of Cardinal Health in a research note on Thursday, February 5th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.19.

Cardinal Health Stock Performance

Shares of CAH stock opened at $215.43 on Friday. The firm has a market cap of $50.69 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $230.81. The firm’s 50-day simple moving average is $208.41 and its two-hundred day simple moving average is $181.75.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 EPS. Analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

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.