Cookson Peirce & Co. Inc. Reduces Position in Cardinal Health, Inc. $CAH

Cookson Peirce & Co. Inc. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,307 shares of the company’s stock after selling 7,855 shares during the period. Cardinal Health accounts for about 1.5% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 19th biggest position. Cookson Peirce & Co. Inc.’s holdings in Cardinal Health were worth $37,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Geode Capital Management LLC boosted its holdings in Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after buying an additional 205,539 shares during the period. Norges Bank purchased a new stake in shares of Cardinal Health during the second quarter worth $584,420,000. Invesco Ltd. boosted its holdings in shares of Cardinal Health by 7.3% in the second quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after acquiring an additional 207,750 shares during the period. Legal & General Group Plc boosted its holdings in shares of Cardinal Health by 2.0% in the second quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock worth $394,761,000 after acquiring an additional 45,812 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Cardinal Health by 19.1% in the second quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock valued at $324,402,000 after purchasing an additional 309,335 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent research reports. Robert W. Baird set a $252.00 price objective on Cardinal Health in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. Leerink Partners upped their target price on shares of Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Mizuho raised their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $245.19.

Cardinal Health Stock Performance

Cardinal Health stock opened at $215.43 on Friday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The stock has a market cap of $50.69 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. The firm’s fifty day moving average price is $208.41 and its 200-day moving average price is $181.75.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

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.