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

CoreCap Advisors LLC boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 14.1% in the second quarter, HoldingsChannel.com reports. The firm owned 33,707 shares of the company’s stock after buying an additional 4,174 shares during the quarter. CoreCap Advisors LLC’s holdings in Cardinal Health were worth $8,008,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after purchasing an additional 617,775 shares in the last quarter. State Street Corp boosted its holdings in shares of Cardinal Health by 1.8% in the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after buying an additional 221,497 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after buying an additional 43,924 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cardinal Health during the 4th quarter worth $790,344,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

CAH stock opened at $233.32 on Wednesday. The company has a fifty day moving average price of $224.29 and a 200 day moving average price of $215.72. Cardinal Health, Inc. has a 12 month low of $137.75 and a 12 month high of $243.21. The company has a market cap of $54.65 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 1.15 and a beta of 0.49.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Bank of America raised their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Citigroup lifted their target price on Cardinal Health from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. William Blair started coverage on Cardinal Health in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $251.73.

Cardinal Health 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.