Russell Investments Group Ltd. Sells 52,670 Shares of Cardinal Health, Inc. (CAH)
Russell Investments Group Ltd. cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 842,364 shares of the company’s stock after selling 52,670 shares during the quarter. Russell Investments Group Ltd. owned about 0.27% of Cardinal Health worth $56,367,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Fox Run Management L.L.C. purchased a new position in shares of Cardinal Health in the second quarter valued at $234,000. Alpha Windward LLC boosted its stake in Cardinal Health by 0.7% during the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the period. Manning & Napier Advisors LLC bought a new stake in Cardinal Health during the second quarter valued at $5,366,000. Osborn Williams & Donohoe LLC boosted its stake in Cardinal Health by 6.6% during the second quarter. Osborn Williams & Donohoe LLC now owns 24,882 shares of the company’s stock valued at $1,939,000 after buying an additional 1,551 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its stake in Cardinal Health by 22.2% during the second quarter. Farmers & Merchants Investments Inc. now owns 49,641 shares of the company’s stock valued at $3,868,000 after buying an additional 9,002 shares during the period. Institutional investors own 88.64% of the company’s stock.
Several equities research analysts recently issued reports on the company. BidaskClub lowered Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Argus lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday. Credit Suisse Group dropped their price objective on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. UBS AG reissued a “neutral” rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $74.81.
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Shares of Cardinal Health, Inc. (NYSE CAH) opened at $57.51 on Friday. Cardinal Health, Inc. has a 52 week low of $55.69 and a 52 week high of $84.88. The company has a quick ratio of 0.52, a current ratio of 1.06 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $18,092.88, a PE ratio of 10.91, a PEG ratio of 1.66 and a beta of 0.88.
Cardinal Health (NYSE:CAH) last released its earnings results on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The company had revenue of $32.64 billion during the quarter, compared to analyst estimates of $33.48 billion. During the same quarter in the previous year, the company posted $1.24 EPS. Cardinal Health’s revenue for the quarter was up 1.9% on a year-over-year basis. analysts expect that Cardinal Health, Inc. will post 4.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.4624 per share. The ex-dividend date is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a yield of 3.22%. Cardinal Health’s dividend payout ratio is presently 53.78%.
Cardinal Health Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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