Forsta AP Fonden Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Forsta AP Fonden has reduced its holdings in Cardinal Health by 5.9%, now owning 102,100 shares worth approximately $14.07 million following the sale of 6,400 shares.
• Institutional investors collectively own 87.17% of Cardinal Health's stock, indicating significant interest from hedge funds and institutional managers.
• Analysts are optimistic about Cardinal Health, with multiple upgrades; Bank of America raised its target price from $165 to $170 with a "buy" rating.

Forsta AP Fonden trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,100 shares of the company's stock after selling 6,400 shares during the quarter. Forsta AP Fonden's holdings in Cardinal Health were worth $14,066,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAH. Marshall Wace LLP grew its holdings in shares of Cardinal Health by 154.6% in the fourth 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 grew its holdings in shares of Cardinal Health by 16.2% in the fourth 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 grew its holdings in shares of Cardinal Health by 4.3% in the fourth 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. Price T Rowe Associates Inc. MD grew its holdings in shares of Cardinal Health by 3.6% in the fourth 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. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $141,963,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.4%

CAH traded up $0.66 on Monday, reaching $158.07. The company's stock had a trading volume of 3,110,379 shares, compared to its average volume of 1,787,024. The stock has a 50 day moving average of $160.05 and a two-hundred day moving average of $143.96. The company has a market capitalization of $37.73 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 1.56 and a beta of 0.67. Cardinal Health, Inc. has a fifty-two week low of $100.07 and a fifty-two week high of $168.44.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Citigroup reissued a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. UBS Group boosted their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price objective 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 boosted their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus price target 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.