Ethic Inc. Purchases 1,828 Shares of Cardinal Health, Inc. $CAH

Ethic Inc. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,220 shares of the company’s stock after purchasing an additional 1,828 shares during the quarter. Ethic Inc.’s holdings in Cardinal Health were worth $3,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CAH. Pinnacle Associates Ltd. boosted its stake in Cardinal Health by 2.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,404 shares of the company’s stock valued at $312,000 after purchasing an additional 39 shares during the period. Parallel Advisors LLC increased its position in Cardinal Health by 1.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,004 shares of the company’s stock worth $668,000 after buying an additional 41 shares during the period. LWM Advisors Inc. increased its position in Cardinal Health by 4.4% during the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the period. Parkside Financial Bank & Trust increased its position in Cardinal Health by 2.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company’s stock worth $426,000 after buying an additional 43 shares during the period. Finally, Raleigh Capital Management Inc. increased its position in Cardinal Health by 2.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,541 shares of the company’s stock worth $343,000 after buying an additional 43 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Up 1.0%

Shares of CAH stock opened at $276.96 on Wednesday. The stock has a market cap of $64.02 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 1.60 and a beta of 0.53. Cardinal Health, Inc. has a 1 year low of $180.45 and a 1 year high of $286.29. The stock has a 50 day simple moving average of $242.08 and a 200 day simple moving average of $224.22.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. The firm had revenue of $67.51 billion for the quarter, compared to analyst estimates of $66.67 billion. Cardinal Health had a negative return on equity of 102.72% and a net margin of 0.71%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $2.55 EPS. Analysts forecast that Cardinal Health, Inc. will post 12.96 EPS for the current year.

Insider Activity

In related news, CEO Deborah Weitzman sold 7,354 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. Mayer sold 29,436 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. 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. Morgan Stanley upped their price target on shares of Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Royal Bank Of Canada raised their price target on shares of Cardinal Health from $276.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Finally, Robert W. Baird lifted their price objective on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.62.

Cardinal Health Company Profile

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.