American Century Companies Inc. raised its stake in Cardinal Health Inc (NYSE:CAH) by 13.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,050,968 shares of the company’s stock after buying an additional 589,529 shares during the period. American Century Companies Inc.’s holdings in Cardinal Health were worth $272,752,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Deprince Race & Zollo Inc. boosted its position in Cardinal Health by 11.0% in the second quarter. Deprince Race & Zollo Inc. now owns 441,884 shares of the company’s stock valued at $21,577,000 after buying an additional 43,672 shares in the last quarter. Arbor Wealth Management LLC acquired a new stake in Cardinal Health in the second quarter valued at approximately $1,582,000. Andra AP fonden boosted its position in Cardinal Health by 21.7% in the second quarter. Andra AP fonden now owns 163,300 shares of the company’s stock valued at $7,974,000 after buying an additional 29,100 shares in the last quarter. Kwmg LLC boosted its position in Cardinal Health by 10.2% in the second quarter. Kwmg LLC now owns 29,682 shares of the company’s stock valued at $1,449,000 after buying an additional 2,746 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in Cardinal Health by 32.5% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 19,650 shares of the company’s stock valued at $1,061,000 after buying an additional 4,825 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.
A number of analysts have weighed in on the stock. Robert W. Baird cut their target price on shares of Cardinal Health from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 7th. Argus cut their target price on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, July 16th. Royal Bank of Canada set a $60.00 target price on shares of Cardinal Health and gave the company a “hold” rating in a research report on Friday, September 21st. Mizuho reiterated a “hold” rating and set a $53.00 price target on shares of Cardinal Health in a report on Sunday, August 12th. Finally, Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Cardinal Health presently has a consensus rating of “Hold” and an average price target of $61.33.
Shares of NYSE:CAH opened at $52.53 on Wednesday. The firm has a market cap of $15.43 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.62 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 0.53 and a debt-to-equity ratio of 1.32. Cardinal Health Inc has a 52 week low of $48.14 and a 52 week high of $75.75.
In other news, CEO Jon L. Giacomin sold 2,890 shares of Cardinal Health stock in a transaction on Monday, August 20th. The shares were sold at an average price of $51.95, for a total transaction of $150,135.50. Following the transaction, the chief executive officer now owns 72,652 shares in the company, valued at $3,774,271.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
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Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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