Fred Alger Management Reduces Cardinal Health Stake

Institutional investor sells over 329,000 shares of healthcare company

Mar. 16, 2026 at 10:18am

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Fred Alger Management LLC, an institutional investor, has reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 41.1%, selling 329,580 shares in the third quarter. The firm now owns 472,652 shares, or about 0.20% of the company's stock, worth $74.2 million as of its latest SEC filing.

Why it matters

This transaction reflects changes in the investment strategy of a major institutional investor in the healthcare sector. Tracking such institutional buying and selling activity can provide insights into market sentiment and potential future stock price movements.

The details

According to the SEC filing, Fred Alger Management sold the 329,580 Cardinal Health shares during the third quarter. The firm previously owned 472,652 shares, or about 0.20% of the company's outstanding stock. Cardinal Health is a major healthcare services and products company that operates in pharmaceutical distribution, medical-surgical product supply, and logistics services.

  • The share sale occurred in the third quarter of the company's fiscal year.

The players

Fred Alger Management LLC

An institutional investment management firm that has reduced its stake in Cardinal Health.

Cardinal Health, Inc.

A multinational healthcare services and products company headquartered in Dublin, Ohio.

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The takeaway

This transaction highlights the shifting investment strategies of major institutional investors in the healthcare sector, which can impact the stock price and trading volume of companies like Cardinal Health.