JPMorgan Chase & Co. Has $575.33 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• JPMorgan Chase & Co. increased its stake in Cardinal Health by 40.0% in the first quarter, acquiring an additional 1,193,983 shares and now holding a value of approximately $575.33 million.
• Institutional investors and hedge funds own 87.17% of Cardinal Health's stock, indicating strong interest from large financial entities.
• Analysts have varying opinions on Cardinal Health, with a consensus rating of "Moderate Buy" and an average target price set at $158.07.

JPMorgan Chase & Co. lifted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 40.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,175,992 shares of the company's stock after buying an additional 1,193,983 shares during the period. JPMorgan Chase & Co. owned approximately 1.75% of Cardinal Health worth $575,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of Cardinal Health by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock worth $43,510,000 after acquiring an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Cardinal Health by 17.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after purchasing an additional 457 shares during the period. Assenagon Asset Management S.A. increased its stake in Cardinal Health by 25.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after purchasing an additional 2,694 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after buying an additional 336 shares during the period. Finally, North Capital Inc. acquired a new position in shares of Cardinal Health in the first quarter worth about $83,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE CAH traded up $2.26 during mid-day trading on Thursday, hitting $150.38. The company had a trading volume of 2,787,266 shares, compared to its average volume of 2,420,521. The business's 50-day simple moving average is $159.80 and its 200-day simple moving average is $144.20. Cardinal Health, Inc. has a 12 month low of $105.01 and a 12 month high of $168.44. The firm 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.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.70% and a negative return on equity of 74.45%. The company had revenue of $60.16 billion during the quarter, compared to analysts' expectations of $60.91 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Jefferies Financial Group set a $150.00 price target on shares of Cardinal Health in a report on Tuesday. Wells Fargo & Company reissued an "overweight" rating and set a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research report on Wednesday. UBS Group reissued a "buy" rating on shares of Cardinal Health in a research report on Tuesday. Finally, Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

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.