Persistent Asset Partners Ltd Sells 19,056 Shares of Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Persistent Asset Partners Ltd decreased its holdings in Cardinal Health by 56.4%, selling 19,056 shares and leaving them with 14,742 shares valued at approximately $2,031,000.
• Several institutional investors, such as Pinnacle Bancorp and Applied Finance Capital Management, have recently increased their positions in Cardinal Health, indicating ongoing interest in the stock despite Persistent's reduction.
• Cardinal Health has received positive analyst ratings, with an average target price of $158.07 and ratings suggesting a Moderate Buy outlook.

Persistent Asset Partners Ltd cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 56.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,742 shares of the company's stock after selling 19,056 shares during the period. Cardinal Health accounts for 1.7% of Persistent Asset Partners Ltd's holdings, making the stock its 15th biggest holding. Persistent Asset Partners Ltd's holdings in Cardinal Health were worth $2,031,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CAH. Pinnacle Bancorp Inc. lifted its holdings in Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after acquiring an additional 77 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in Cardinal Health by 1.4% in the first quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock valued at $833,000 after acquiring an additional 85 shares during the last quarter. CSS LLC IL lifted its holdings in shares of Cardinal Health by 0.8% in the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after acquiring an additional 90 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after acquiring an additional 90 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV lifted its holdings in shares of Cardinal Health by 2.1% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Morgan Stanley restated an "overweight" rating on shares of Cardinal Health in a report on Tuesday. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a report on Tuesday. Finally, Robert W. Baird upped their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and an average target price of $158.07.

Cardinal Health Stock Up 0.4%

Shares of NYSE:CAH opened at $158.07 on Tuesday. The firm's 50 day moving average price is $160.10 and its 200 day moving average price is $144.16. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth 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.

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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