Cardinal Health, Inc. (NYSE:CAH – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 3,989 call options on the company. This represents an increase of approximately 84% compared to the average volume of 2,171 call options.
Institutional Investors Weigh In On Cardinal Health
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. lifted its position in shares of Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after purchasing an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Cardinal Health by 86.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after acquiring an additional 32,250 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Cardinal Health by 237.7% in the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after acquiring an additional 120,740 shares during the last quarter. Tobam raised its position in shares of Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after acquiring an additional 43,488 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its stake in Cardinal Health by 12.3% during the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after purchasing an additional 24,222 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
Cardinal Health Price Performance
NYSE CAH traded up $4.42 on Wednesday, reaching $107.00. The company had a trading volume of 915,325 shares, compared to its average volume of 2,124,855. Cardinal Health has a 1 year low of $85.11 and a 1 year high of $116.04. The firm has a 50-day moving average of $98.80 and a 200-day moving average of $103.15. The firm has a market capitalization of $26.06 billion, a PE ratio of 45.59, a P/E/G ratio of 1.14 and a beta of 0.61.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on CAH shares. Argus dropped their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company decreased their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Citigroup dropped their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Evercore ISI decreased their price target on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Finally, Robert W. Baird increased their target price on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.67.
Check Out Our Latest Report on Cardinal Health
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.
Featured Articles
- Five stocks we like better than Cardinal Health
- 3 Best Fintech Stocks for a Portfolio Boost
- Defying the Market: 3 Mega-Cap Stocks Soaring to New Highs
- 5 discounted opportunities for dividend growth investors
- Microsoft Stock: Is Now The Time To Be Greedy?
- How to Capture the Benefits of Dividend Increases
- How to Invest in Mutual Funds
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.