Edgestream Partners L.P. Purchases 4,112 Shares of Cardinal Health, Inc. $CAH

Edgestream Partners L.P. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 168.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,548 shares of the company’s stock after purchasing an additional 4,112 shares during the quarter. Edgestream Partners L.P.’s holdings in Cardinal Health were worth $1,384,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its position in Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after buying an additional 280 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at about $1,935,000. Cerity Partners LLC raised its holdings in shares of Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after acquiring an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in shares of Cardinal Health by 34.4% during the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,646 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH stock opened at $235.09 on Tuesday. The company has a market capitalization of $55.06 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The company’s 50 day moving average price is $223.64 and its two-hundred day moving average price is $215.58.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CAH shares. Zacks Research lowered Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. JPMorgan Chase & Co. lowered their target price on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. UBS Group lifted their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Wells Fargo & Company cut their price target on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Evercore decreased their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. 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.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price 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.