PGGM Investments Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

PGGM Investments reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,125 shares of the company’s stock after selling 22,131 shares during the quarter. PGGM Investments owned 0.06% of Cardinal Health worth $13,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CAH. Clearstead Trust LLC acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its stake in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health in the 1st quarter worth about $32,000. LRI Investments LLC acquired a new stake in Cardinal Health in the 1st quarter valued at about $32,000. Finally, Palisade Asset Management LLC purchased a new position in Cardinal Health during the 1st quarter valued at about $34,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock traded up $3.78 during trading on Wednesday, reaching $106.36. The company had a trading volume of 4,239,402 shares, compared to its average volume of 2,146,164. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The stock’s 50 day moving average price is $98.97 and its two-hundred day moving average price is $103.18. The firm has a market capitalization of $25.91 billion, a price-to-earnings ratio of 47.27, a PEG ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.12. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 EPS. As a group, research analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Analysts Set New Price Targets

CAH has been the topic of several research reports. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Robert W. Baird increased their price objective on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Wells Fargo & Company cut their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Finally, Evercore ISI decreased their price target on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.