Westfield Capital Management Co. LP Purchases New Shares in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Westfield Capital Management Co. LP acquired 4,325 shares of Cardinal Health, valued at approximately $596,000, marking a new investment in the company during the first quarter.
• Several large investors have increased their stakes in Cardinal Health, with increases ranging from 5.3% to 569.5%, indicating strong institutional interest in the company.
• Analysts have generally upgraded their outlook on Cardinal Health, with a consensus price target currently set at $158.07 and twelve analysts giving the stock a buy rating.

Westfield Capital Management Co. LP purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,325 shares of the company's stock, valued at approximately $596,000.

Other large investors have also made changes to their positions in the company. Tompkins Financial Corp grew its stake 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 period. Bellwether Advisors LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $32,000. GW&K Investment Management LLC grew its stake in shares of Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after acquiring an additional 144 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $36,000. Finally, NBC Securities Inc. bought a new position in shares of Cardinal Health during the 1st quarter valued at approximately $48,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Citigroup reiterated a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Evercore ISI restated an "outperform" rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

Cardinal Health Stock Performance

Shares of CAH traded up $4.03 during mid-day trading on Friday, hitting $157.44. 1,634,303 shares of the stock were exchanged, compared to its average volume of 1,771,020. The company has a market cap of $37.58 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.56 and a beta of 0.67. Cardinal Health, Inc. has a 52-week low of $98.07 and a 52-week high of $168.44. The firm has a 50-day moving average of $160.05 and a two-hundred day moving average of $143.86.

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.