Russell Investments Group Ltd. reduced its stake in Cardinal Health Inc (NYSE:CAH) by 72.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,221 shares of the company’s stock after selling 457,787 shares during the period. Russell Investments Group Ltd. owned 0.06% of Cardinal Health worth $8,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rockland Trust Co. raised its position in Cardinal Health by 1.4% in the second quarter. Rockland Trust Co. now owns 16,807 shares of the company’s stock worth $792,000 after acquiring an additional 231 shares during the period. Point View Wealth Management Inc. grew its holdings in Cardinal Health by 3.1% during the first quarter. Point View Wealth Management Inc. now owns 7,641 shares of the company’s stock valued at $368,000 after purchasing an additional 233 shares during the period. Securian Asset Management Inc grew its holdings in Cardinal Health by 0.9% during the second quarter. Securian Asset Management Inc now owns 30,656 shares of the company’s stock valued at $1,444,000 after purchasing an additional 265 shares during the period. Loudon Investment Management LLC increased its position in Cardinal Health by 2.3% in the first quarter. Loudon Investment Management LLC now owns 12,789 shares of the company’s stock worth $616,000 after buying an additional 285 shares during the last quarter. Finally, O Shares Investment Advisers LLC increased its position in Cardinal Health by 3.0% in the first quarter. O Shares Investment Advisers LLC now owns 9,864 shares of the company’s stock worth $475,000 after buying an additional 288 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on CAH shares. Guggenheim raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the company from $50.00 to $52.00 in a research report on Tuesday, August 20th. Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Morgan Stanley decreased their price objective on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $53.71.

Cardinal Health stock traded up $0.65 during mid-day trading on Wednesday, reaching $48.60. The company’s stock had a trading volume of 933,247 shares, compared to its average volume of 2,593,068. Cardinal Health Inc has a 12-month low of $41.03 and a 12-month high of $58.31. The company has a market capitalization of $13.96 billion, a P/E ratio of 9.20, a PEG ratio of 1.55 and a beta of 1.29. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07. The firm’s fifty day moving average price is $44.25 and its two-hundred day moving average price is $46.52.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, August 8th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.18. The firm had revenue of $37.35 billion for the quarter, compared to the consensus estimate of $36.70 billion. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. On average, research analysts predict that Cardinal Health Inc will post 5.01 EPS for the current fiscal year.

Cardinal Health Profile

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.

Read More: Limitations of the P/E Growth ratio

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health Inc (NYSE:CAH).

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.