Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its holdings in Cardinal Health by 57.9% during the first quarter, now owning 95,934 shares valued at approximately $13.2 million.
• Several brokerages have upgraded their ratings for Cardinal Health, with Citigroup and UBS Group raising their price targets to $170.00 and $160.00, respectively, indicating a positive outlook for the stock.
• Cardinal Health's stock performance has shown significant fluctuations, with a 52-week high of $168.44 and a low of $96.05, reflecting its volatility in the market.

New Age Alpha Advisors LLC increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 57.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 95,934 shares of the company's stock after purchasing an additional 35,196 shares during the quarter. Cardinal Health accounts for 0.6% of New Age Alpha Advisors LLC's holdings, making the stock its 21st biggest holding. New Age Alpha Advisors LLC's holdings in Cardinal Health were worth $13,217,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of CAH. Wellington Management Group LLP increased its holdings in Cardinal Health by 687.0% during the 4th quarter. Wellington Management Group LLP now owns 134,951 shares of the company's stock worth $15,961,000 after purchasing an additional 117,803 shares during the period. World Investment Advisors grew its position in shares of Cardinal Health by 14.0% during the 4th quarter. World Investment Advisors now owns 2,825 shares of the company's stock worth $334,000 after buying an additional 348 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Cardinal Health by 1.5% during the 4th quarter. Wells Fargo & Company MN now owns 571,918 shares of the company's stock worth $67,641,000 after buying an additional 8,611 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Cardinal Health during the 4th quarter worth $11,724,000. Finally, Wedbush Securities Inc. bought a new position in shares of Cardinal Health during the 4th quarter worth $550,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Down 2.3%

Shares of NYSE CAH traded down $3.57 during mid-day trading on Thursday, reaching $153.03. 3,229,065 shares of the company were exchanged, compared to its average volume of 1,720,743. The stock has a market cap of $36.53 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 1.56 and a beta of 0.67. Cardinal Health, Inc. has a 1 year low of $96.05 and a 1 year high of $168.44. The firm has a 50-day moving average of $159.99 and a 200 day moving average of $143.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CAH shares. UBS Group increased their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Evercore ISI reissued an "outperform" rating and set a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Morgan Stanley increased their price target on Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Robert W. Baird upped their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.07.

About Cardinal Health

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.