Los Angeles Capital Management & Equity Research Inc. lowered its position in Cardinal Health Inc (NYSE:CAH) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747,087 shares of the company’s stock after selling 24,820 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Cardinal Health were worth $40,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new stake in shares of Cardinal Health during the third quarter valued at approximately $108,000. NEXT Financial Group Inc purchased a new stake in shares of Cardinal Health during the third quarter valued at approximately $111,000. First Hawaiian Bank purchased a new stake in shares of Cardinal Health during the third quarter valued at approximately $125,000. Sentry Investment Management LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $132,000. Finally, CX Institutional purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $187,000. 90.64% of the stock is owned by institutional investors and hedge funds.
Shares of Cardinal Health stock opened at $52.53 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32. The company has a market cap of $15.43 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 1.62 and a beta of 0.94. Cardinal Health Inc has a 52 week low of $48.14 and a 52 week high of $75.75.
A number of analysts have recently weighed in on CAH shares. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Mizuho reissued a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a research note on Sunday, August 12th. Royal Bank of Canada reissued a “hold” rating and set a $56.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 7th. Argus dropped their price objective on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Finally, Robert W. Baird reissued a “hold” rating and set a $51.00 price objective on shares of Cardinal Health in a research note on Friday, July 20th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $61.33.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the transaction, the chief executive officer now owns 72,652 shares in the company, valued at $3,774,271.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.
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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.
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