CoreCap Advisors LLC Increases Position in Cardinal Health, Inc. $CAH

CoreCap Advisors LLC grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,707 shares of the company’s stock after purchasing an additional 4,174 shares during the period. CoreCap Advisors LLC’s holdings in Cardinal Health were worth $8,008,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CAH. Vanguard Group Inc. lifted its stake in Cardinal Health by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after acquiring an additional 617,775 shares in the last quarter. State Street Corp increased its stake in Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after purchasing an additional 221,497 shares during the period. Geode Capital Management LLC increased its stake in Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after purchasing an additional 43,924 shares during the period. Wellington Management Group LLP lifted its position in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Cardinal Health in the fourth quarter valued at approximately $790,344,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAH shares. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Bank of America boosted their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Robert W. Baird set a $248.00 price objective on Cardinal Health in a research note on Friday, May 1st. William Blair assumed coverage on Cardinal Health in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Weiss Ratings downgraded Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.73.

Cardinal Health Trading Down 1.0%

Shares of NYSE:CAH opened at $233.32 on Wednesday. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $243.21. The company’s 50 day moving average is $224.29 and its two-hundred day moving average is $215.72. The company has a market cap of $54.65 billion, a PE ratio of 35.68, a P/E/G ratio of 1.15 and a beta of 0.49.

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.