Cardinal Health, Inc. $CAH Stock: Vestor Capital LLC Grows Position

Vestor Capital LLC raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6,855.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,906 shares of the company’s stock after purchasing an additional 61,016 shares during the period. Vestor Capital LLC’s holdings in Cardinal Health were worth $13,774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Cardinal Health during the second quarter valued at approximately $308,640,000. First Nebraska Trust Co bought a new stake in Cardinal Health during the 2nd quarter valued at $20,050,000. Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health during the 2nd quarter valued at $1,177,000. Saudi Central Bank lifted its stake in shares of Cardinal Health by 87.8% during the 2nd quarter. Saudi Central Bank now owns 16,472 shares of the company’s stock worth $3,913,000 after purchasing an additional 7,702 shares during the last quarter. Finally, Nilsine Partners LLC boosted its position in Cardinal Health by 437.7% during the second quarter. Nilsine Partners LLC now owns 6,049 shares of the company’s stock valued at $1,437,000 after purchasing an additional 4,924 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen M. Mason sold 35,000 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the transaction, the chief executive officer owned 18,061 shares of the company’s stock, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAH. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Evercore reaffirmed an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a research report on Wednesday, August 12th. Robert W. Baird increased their price target on Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. UBS Group upped their price objective on shares of Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a report on Friday, October 16th. Finally, Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 25th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $274.00.

Cardinal Health Price Performance

NYSE:CAH opened at $273.95 on Tuesday. Cardinal Health, Inc. has a 1-year low of $180.45 and a 1-year high of $286.29. The firm has a market capitalization of $63.44 billion, a P/E ratio of 35.44, a PEG ratio of 1.57 and a beta of 0.53. The company’s fifty day moving average price is $241.24 and its 200-day moving average price is $223.87.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.32. The company had revenue of $67.51 billion for the quarter, compared to the consensus estimate of $66.67 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $2.55 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 12.86 EPS for the current fiscal year.

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.