Cardinal Health, Inc. $CAH Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,142 shares of the company’s stock after selling 23,215 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Cardinal Health worth $77,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CAH. Strategy Asset Managers LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter valued at about $775,000. Mirae Asset Global Investments Co. Ltd. grew its position in Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after purchasing an additional 5,030 shares during the last quarter. Versor Investments LP acquired a new position in Cardinal Health in the third quarter valued at $2,090,000. Atle Fund Management AB raised its holdings in shares of Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after buying an additional 3,500 shares during the last quarter. Finally, Candriam S.C.A. boosted its stake in shares of Cardinal Health by 10.8% during the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after buying an additional 19,155 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on CAH shares. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research report on Tuesday, November 18th. Finally, Argus upped their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Price Performance

CAH opened at $216.91 on Wednesday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60. The stock has a market capitalization of $51.04 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.43 and a beta of 0.65. The business has a 50 day simple moving average of $216.14 and a 200-day simple moving average of $191.03.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter last year, the company earned $1.93 earnings per share. Cardinal Health’s quarterly revenue was up 18.8% compared to the same quarter last year. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.