PNC Financial Services Group Inc. Buys 2,474 Shares of Cardinal Health, Inc. (NYSE:CAH)

Key Points

• PNC Financial Services Group Inc. increased its stake in Cardinal Health by 3.3%, acquiring an additional 2,474 shares for a total of 76,355 shares, valued at approximately $10.5 million.
• Recent analyst activity includes UBS raising its target price for Cardinal Health from $150 to $160 and an upgrade from Wells Fargo, which now has a price target of $179.
• Cardinal Health shares have shown significant volatility, with a 1-year low of $96.05 and a 1-year high of $168.44, while currently trading around $158.22.

PNC Financial Services Group Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 76,355 shares of the company's stock after acquiring an additional 2,474 shares during the period. PNC Financial Services Group Inc.'s holdings in Cardinal Health were worth $10,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bellwether Advisors LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $32,000. Tompkins Financial Corp increased its position in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Cardinal Health during the 4th quarter valued at about $36,000. GW&K Investment Management LLC lifted its position in Cardinal Health by 113.4% in the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after buying an additional 144 shares during the last quarter. Finally, Measured Risk Portfolios Inc. bought a new stake in Cardinal Health in the 4th quarter worth approximately $47,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CAH shares. Wall Street Zen cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday. UBS Group increased their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Bank of America boosted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and an average target price of $158.07.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $158.22 on Wednesday. Cardinal Health, Inc. has a 1-year low of $96.05 and a 1-year high of $168.44. The company's fifty day simple moving average is $159.93 and its 200-day simple moving average is $143.27. The stock has a market capitalization of $37.76 billion, a PE ratio of 24.68, a P/E/G ratio of 1.58 and a beta of 0.67.

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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