Russell Investments Group Ltd. Reduces Position in Cardinal Health Inc (NYSE:CAH)
Russell Investments Group Ltd. decreased its position in Cardinal Health Inc (NYSE:CAH) by 72.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 171,221 shares of the company’s stock after selling 457,787 shares during the period. Russell Investments Group Ltd.’s holdings in Cardinal Health were worth $8,029,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Cardinal Health by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 4,155,931 shares of the company’s stock valued at $185,121,000 after acquiring an additional 213,970 shares during the period. Northern Trust Corp increased its holdings in Cardinal Health by 5.3% during the 1st quarter. Northern Trust Corp now owns 4,029,570 shares of the company’s stock valued at $194,024,000 after purchasing an additional 203,897 shares during the period. Pzena Investment Management LLC raised its position in Cardinal Health by 20.5% during the 2nd quarter. Pzena Investment Management LLC now owns 3,644,698 shares of the company’s stock valued at $171,665,000 after purchasing an additional 621,135 shares during the last quarter. LSV Asset Management raised its position in Cardinal Health by 1.0% during the 2nd quarter. LSV Asset Management now owns 2,849,867 shares of the company’s stock valued at $134,228,000 after purchasing an additional 27,523 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cardinal Health by 41.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,447,058 shares of the company’s stock worth $109,144,000 after buying an additional 720,871 shares during the period. 88.57% of the stock is currently owned by institutional investors.
CAH stock traded up $0.65 during trading on Wednesday, reaching $48.60. The company had a trading volume of 933,247 shares, compared to its average volume of 2,593,068. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.54. Cardinal Health Inc has a 52 week low of $41.03 and a 52 week high of $58.31. The business has a 50 day moving average of $44.25 and a 200 day moving average of $46.52. The company has a market cap of $13.96 billion, a P/E ratio of 9.20, a PEG ratio of 1.55 and a beta of 1.29.
A number of equities research analysts have recently weighed in on CAH shares. Morgan Stanley cut their price objective on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, Guggenheim raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $52.00 in a research note on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.71.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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