AE Wealth Management LLC Lowers Stake in Cardinal Health, Inc. $CAH

AE Wealth Management LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 58.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,051 shares of the company’s stock after selling 12,729 shares during the quarter. AE Wealth Management LLC’s holdings in Cardinal Health were worth $1,421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $584,420,000. Acadian Asset Management LLC raised its holdings in shares of Cardinal Health by 92.5% in the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after buying an additional 807,063 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after purchasing an additional 730,209 shares during the period. Voya Investment Management LLC lifted its stake in Cardinal Health by 298.3% during the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after acquiring an additional 615,398 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Cardinal Health by 237.6% during the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock worth $106,760,000 after purchasing an additional 478,689 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 1.8%

Shares of CAH opened at $218.69 on Tuesday. The firm has a market cap of $51.96 billion, a P/E ratio of 32.98, a PEG ratio of 1.46 and a beta of 0.64. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $218.93. The stock’s 50 day moving average is $206.39 and its two-hundred day moving average is $178.56.

Analyst Ratings Changes

CAH has been the topic of several analyst reports. Morgan Stanley increased their price target on Cardinal Health from $224.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird set a $250.00 target price on Cardinal Health in a research note on Wednesday, January 14th. Evercore ISI lifted their price target on Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. UBS Group boosted their price target on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group raised their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $224.73.

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.