Cookson Peirce & Co. Inc. Makes New $33.86 Million Investment in Cardinal Health, Inc. (NYSE:CAH)

Cookson Peirce & Co. Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 245,734 shares of the company’s stock, valued at approximately $33,855,000. Cardinal Health makes up 1.7% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 17th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock worth $43,510,000 after buying an additional 15,956 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of Cardinal Health by 17.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock valued at $429,000 after purchasing an additional 457 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Cardinal Health by 25.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock valued at $1,811,000 after purchasing an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. Finally, North Capital Inc. purchased a new position in shares of Cardinal Health in the 1st quarter valued at approximately $83,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of several analyst reports. Leerink Partners set a $186.00 target price on Cardinal Health and gave the company an “outperform” rating in a research note on Tuesday. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a research note on Tuesday. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $185.00 target price (up from $183.00) on shares of Cardinal Health in a research note on Wednesday. Finally, Jefferies Financial Group set a $150.00 target price on Cardinal Health in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.20.

Cardinal Health Stock Performance

Shares of CAH stock opened at $148.14 on Thursday. The stock has a fifty day moving average price of $159.80 and a 200 day moving average price of $144.20. The stock has a market cap of $35.36 billion, a PE ratio of 22.97, a P/E/G ratio of 1.44 and a beta of 0.67. Cardinal Health, Inc. has a 1 year low of $105.01 and a 1 year high of $168.44.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion during the quarter, compared to analysts’ expectations of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%. Cardinal Health’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health 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.