NewEdge Advisors LLC Boosts Stock Holdings in Cardinal Health, Inc. $CAH

by · The Markets Daily

NewEdge Advisors LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 52.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,939 shares of the company’s stock after acquiring an additional 11,740 shares during the period. NewEdge Advisors LLC’s holdings in Cardinal Health were worth $7,172,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CAH. Norges Bank purchased a new position in shares of Cardinal Health during the fourth quarter valued at about $790,344,000. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 153.2% in 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 during the last quarter. Marshall Wace LLP increased its stake in Cardinal Health by 1,328.1% in the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock worth $195,484,000 after buying an additional 884,648 shares during the period. Bessemer Group Inc. lifted its holdings in Cardinal Health by 7,053.4% during the 1st quarter. Bessemer Group Inc. now owns 750,038 shares of the company’s stock valued at $158,491,000 after buying an additional 739,553 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after buying an additional 617,775 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Bank of America boosted their price target on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Mizuho increased their price objective on Cardinal Health from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. UBS Group boosted their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Citigroup upped their price target on shares of Cardinal Health from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $251.73.

Read Our Latest Stock Analysis on CAH

Cardinal Health Stock Up 0.2%

Shares of CAH opened at $236.77 on Tuesday. Cardinal Health, Inc. has a 52 week low of $137.75 and a 52 week high of $244.87. The company has a market capitalization of $55.45 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.16 and a beta of 0.49. The stock’s 50-day moving average price is $227.47 and its 200-day moving average price is $216.44.

Cardinal Health Company Profile

(Free Report)

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.

Further Reading

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