CCM Investment Group LLC Acquires Shares of 21,258 Cardinal Health, Inc. (NYSE:CAH)

Key Points

• CCM Investment Group LLC acquired 21,258 shares of Cardinal Health, Inc., valued at approximately $2.9 million, in the first quarter according to a recent SEC filing.
• Several institutional investors have also increased their stakes in Cardinal Health, with JPMorgan Chase & Co. raising its stake by 40%, and others like Marshall Wace LLP and Northern Trust Corp significantly boosting their holdings as well.
• Equities analysts are optimistic about Cardinal Health, with UBS Group raising its price target from $150 to $160 and the consensus rating for the stock currently considered a "Moderate Buy."

CCM Investment Group LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,258 shares of the company's stock, valued at approximately $2,900,000.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Northern Trust Corp increased its stake in shares of Cardinal Health by 16.2% in the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock valued at $359,286,000 after purchasing an additional 422,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cardinal Health by 4.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock valued at $274,599,000 after purchasing an additional 94,768 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Cardinal Health by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,601,322 shares of the company's stock valued at $189,390,000 after purchasing an additional 55,781 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CAH shares. UBS Group lifted their price target on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI restated an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Morgan Stanley lifted their price target on Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $157.44 on Friday. The stock has a market cap of $37.58 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.56 and a beta of 0.67. The stock's 50 day simple moving average is $160.05 and its 200-day simple moving average is $143.86. Cardinal Health, Inc. has a 1-year low of $98.07 and a 1-year high of $168.44.

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.

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