Cardinal Health, Inc. $CAH Stock Position Raised by Vestor Capital LLC

Key Points

• Vestor Capital sharply increased its Cardinal Health position by 6,855.7% in the third quarter, ending the period with 61,906 shares valued at about $13.8 million.
• Cardinal Health beat quarterly expectations, reporting EPS of $3.26 versus $2.94 expected and revenue of $67.51 billion; revenue grew 5.5% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating and a $274 price target. Meanwhile, company insiders sold about $49.6 million in shares over the past three months.

Vestor Capital LLC lifted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 6,855.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,906 shares of the company's stock after purchasing an additional 61,016 shares during the period. Vestor Capital LLC's holdings in Cardinal Health were worth $13,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of CAH. BlackRock Inc. bought a new position in shares of Cardinal Health in the second quarter worth about $6,293,115,000. Wellington Management Group LLP grew its holdings 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 in the last quarter. Bank of America Corp DE purchased a new stake in Cardinal Health during the 2nd quarter valued at approximately $689,066,000. Legal & General Group Plc purchased a new stake in Cardinal Health during the 2nd quarter valued at approximately $438,870,000. Finally, Pacer Advisors Inc. grew its stake in Cardinal Health by 14.7% during the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company's stock valued at $330,728,000 after acquiring an additional 200,021 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 80,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the transaction, the chief executive officer owned 235,132 shares of the company's stock, valued at $55,430,017.68. This represents a 25.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. 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 three months. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on CAH. Mizuho set a $290.00 price objective on shares of Cardinal Health in a report on Thursday. TD Cowen increased their price target on Cardinal Health from $280.00 to $304.00 and gave the company a "buy" rating in a research note on Monday. Royal Bank Of Canada increased their target price on Cardinal Health from $276.00 to $295.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup upped their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Evercore restated an "outperform" rating and issued a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus target price of $274.00.

Cardinal Health Stock Performance

NYSE CAH opened at $273.95 on Tuesday. The company has a market cap of $63.44 billion, a P/E ratio of 35.44, a P/E/G ratio of 1.57 and a beta of 0.53. The business's 50 day moving average price is $241.24 and its 200-day moving average price is $223.87. Cardinal Health, Inc. has a fifty-two week low of $180.45 and a fifty-two week high of $286.29.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.94 by $0.32. The company had revenue of $67.51 billion during the quarter, compared to the consensus estimate of $66.67 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. Cardinal Health's revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $2.55 earnings per share. As a group, equities analysts predict that Cardinal Health, Inc. will post 12.86 EPS for the current year.

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.

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