Recent trading patterns in the stock of Cardinal Health, Inc. (NYSE:CAH) have investors on high alert. The idea that stock performance can best be predicted by analyzing past trading data is a widely held view among financial professionals. In the case of CAH, the data could have some interesting implications for future performance. In the most recent quarter, institutional ownership increased by a net of 388149 shares, or 0.14%.This is a bullish sign and indicates that institutions are feeling more optimistic about the outlook for CAH overall.298 holders increased their positions, 365 decreased their positions, and 135 holders held their positions.

Among institutions that increased their positions, 60 were new positions. Among holders that decreased their positions, 66 sold out of the stock Cardinal Health, Inc.. Insider ownership during the latest quarter increased by a net of 133974 shares, indicating that CAH’s key executives are feeling more bullish about the stock than they did three months ago. 16 or 57.14% of the trades during the past quarter were buys, and 12 or 42.86% were sells. Insider ownership during the last year has decreased by a net of 296266 shares. 60% of insider trades in the last 12 months were buys, and 40% were sells.

Over the past year, the price of Cardinal Health, Inc. (CAH) has decreased -12.61% while the S&P 500 has increased 19.49%. During the past 20 days, CAH has decreased -5.01% while the broad market has increased 1.94%. CAH ‘s 20-day moving average currently sits above its 100-day moving average. This is a bullish signal that suggests the stock price might continue to rise. CAH’s average trading volume during the past 20 days is lower than the average volume over the past 100 days, which could be an indication that investors are feeling less certain than usual about the direction of CAH’s future price movements.

Cardinal Health, Inc. (NYSE:CAH) has a 20-day RSI of 41.29%. According to this momentum indicator, a reading between 30 and 70 suggests the stock is not especially cheap or expensive, and not on the brink of a trend reversal. The MACD tells a different story. CAH’s 9-day MACD currently sits above the 20-day MACD, indicating that CAH’s downside momentum has increased during the last three weeks. This suggests that the trend will likely continue. CAH’s average trading volatility during the past few weeks is -11.99% lower than the average volatility over the past 100 days. This means that the stock’s daily price swings have been less extreme in recent times compared to the past.

Analysts expect Cardinal Health, Inc. (CAH) to generate earnings per share of $4.95 in 2017. This works out to a decrease of -8.33% compared to last year’s earnings. For comparison’s sake, analysts expect the S&P 500 to grow earnings by an average of 12% in 2017. The average investment rating for CAH on a scale of 1 to 5 (1 being a strong sell and 5 being a strong buy) is a 3.15 or a Hold. Three months ago, analysts assigned CAH a 3.17 rating, which implies that analysts have become more pessimistic about the outlook for the stock over the next year.