Cypress Capital Group Trims Position in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Cypress Capital Group has significantly reduced its stake in Cardinal Health, decreasing its position by 74.9% after selling 8,885 shares, leaving it with 2,984 shares valued at approximately $411,000.
• Institutional investors now hold 87.17% of Cardinal Health's stock, with several institutions like Cerity Partners LLC and Sterling Capital Management LLC adjusting their positions positively in recent quarters.
• Analysts remain optimistic about Cardinal Health, with twelve out of fifteen investment analysts rating it as a "buy," and target prices for the stock have been raised, with Citigroup setting a target of $170.00.

Cypress Capital Group trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 74.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,984 shares of the company's stock after selling 8,885 shares during the quarter. Cypress Capital Group's holdings in Cardinal Health were worth $411,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAH. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cardinal Health during the first quarter valued at about $26,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $32,000. Tompkins Financial Corp increased its holdings in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after acquiring an additional 128 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $36,000. Finally, GW&K Investment Management LLC increased its holdings in shares of Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a report on Tuesday. Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday. Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a report on Tuesday. Finally, Bank of America increased their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a hold rating and thirteen have given 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 $163.20.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded up $2.26 during midday trading on Thursday, reaching $150.38. 2,787,266 shares of the company's stock traded hands, compared to its average volume of 2,420,521. Cardinal Health, Inc. has a 1 year low of $105.01 and a 1 year high of $168.44. The company has a market cap of $35.89 billion, a P/E ratio of 23.31, a PEG ratio of 1.44 and a beta of 0.67. The company has a fifty day simple moving average of $159.80 and a two-hundred day simple moving average of $144.20.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%. The firm had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same quarter last year, the firm posted $1.84 EPS. The business's revenue was up .5% on a year-over-year basis. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health 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.