Meridian Wealth Management LLC Sells 3,572 Shares of Cardinal Health, Inc. $CAH

Meridian Wealth Management LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 42.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,775 shares of the company’s stock after selling 3,572 shares during the quarter. Meridian Wealth Management LLC’s holdings in Cardinal Health were worth $746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC raised its holdings in shares of 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 purchasing an additional 280 shares during the period. Jones Financial Companies Lllp lifted its holdings in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cardinal Health by 2.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,803 shares of the company’s stock valued at $5,511,000 after acquiring an additional 690 shares during the period. Ameritas Advisory Services LLC bought a new position in Cardinal Health in the 2nd quarter valued at $105,000. Finally, Simplicity Wealth LLC purchased a new position in Cardinal Health during the second quarter worth about $425,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.5%

Shares of Cardinal Health stock opened at $217.93 on Wednesday. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $220.27. The company’s 50 day moving average is $206.47 and its 200 day moving average is $178.97. The company has a market cap of $51.78 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. Barclays started coverage on Cardinal Health in a research note on Monday, December 8th. They set an “overweight” rating and a $243.00 price target for the company. Mizuho set a $222.00 target price on shares of Cardinal Health in a report on Monday, January 12th. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, UBS Group upped their target price on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 31st. Fourteen 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 currently has an average rating of “Moderate Buy” and a consensus target price of $230.43.

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.