ING Groep NV Has $31.13 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• ING Groep NV significantly increased its stake in Cardinal Health, Inc. by 262.6%, acquiring an additional 163,636 shares, bringing its total ownership to 225,946 shares valued at approximately $31.13 million.
• Analysts are optimistic about Cardinal Health's prospects, with multiple firms raising their price targets; for instance, Bank of America raised its target from $165 to $170, maintaining a "buy" rating.
• Cardinal Health reported earnings of $2.35 EPS for the latest quarter, surpassing analyst expectations, despite experiencing a slight revenue decline to $54.88 billion compared to estimates of $55.33 billion.

ING Groep NV raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 262.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,946 shares of the company's stock after buying an additional 163,636 shares during the period. ING Groep NV owned 0.09% of Cardinal Health worth $31,129,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CAH. Marshall Wace LLP raised its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after buying an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Cardinal Health during the fourth quarter valued at about $141,963,000. GAMMA Investing LLC raised its holdings in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after buying an additional 959,486 shares in the last quarter. Junto Capital Management LP bought a new position in Cardinal Health during the fourth quarter valued at about $92,811,000. Finally, Woodline Partners LP bought a new position in Cardinal Health during the fourth quarter valued at about $87,144,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Shares of NYSE:CAH traded down $3.57 during trading on Thursday, reaching $153.03. The stock had a trading volume of 3,229,065 shares, compared to its average volume of 2,375,174. Cardinal Health, Inc. has a 52 week low of $96.05 and a 52 week high of $168.44. The business's 50-day moving average price is $160.00 and its 200 day moving average price is $143.36. The stock has a market capitalization of $36.53 billion, a PE ratio of 23.87, a P/E/G ratio of 1.57 and a beta of 0.67.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup reiterated a "neutral" rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Morgan Stanley lifted their price objective on Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. UBS Group lifted their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Evercore ISI reissued an "outperform" rating and set a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.