10,079 Cardinal Health, Inc. $CAH Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 386,632 shares of the company’s stock after acquiring an additional 10,079 shares during the quarter. Retirement Systems of Alabama owned 0.17% of Cardinal Health worth $86,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAH. BlackRock Inc. bought a new stake in Cardinal Health in the 2nd quarter worth approximately $6,293,115,000. Wellington Management Group LLP raised its stake in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares during the last quarter. Bank of America Corp DE purchased a new stake in Cardinal Health during the 2nd quarter valued at $689,066,000. Legal & General Group Plc bought a new position in shares of Cardinal Health during the 2nd quarter valued at $438,870,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Cardinal Health during the 2nd quarter valued at $308,640,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 25th. Citigroup upped their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Barclays raised their target price on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, UBS Group boosted their price target on Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.00.

Cardinal Health Stock Performance

NYSE:CAH opened at $273.95 on Tuesday. The stock has a 50-day simple moving average of $241.24 and a two-hundred day simple moving average of $223.87. Cardinal Health, Inc. has a 52-week low of $180.45 and a 52-week high of $286.29. The firm has a market capitalization of $63.44 billion, a PE ratio of 35.44, a P/E/G ratio of 1.57 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The business had revenue of $67.51 billion during the quarter, compared to analysts’ expectations of $66.67 billion. During the same quarter in the prior year, the business posted $2.55 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post 12.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle D. Greene sold 11,650 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the transaction, the insider owned 10,330 shares in the company, valued at $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 210,271 shares of company stock worth $49,626,657 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.