Sumitomo Mitsui Trust Holdings Inc. Sells 21,351 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 642,945 shares of the company’s stock after selling 21,351 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Cardinal Health worth $71,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $25,000. Raleigh Capital Management Inc. grew its stake in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $30,000. Hexagon Capital Partners LLC raised its position in shares of Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Cardinal Health during the 4th quarter valued at about $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH opened at $95.70 on Friday. The business’s 50-day simple moving average is $99.32 and its 200 day simple moving average is $104.30. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04. The firm has a market capitalization of $23.31 billion, a PE ratio of 42.53, a PEG ratio of 1.06 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.5056 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.11%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Analyst Ratings Changes

Several analysts have commented on CAH shares. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Robert W. Baird dropped their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Argus reduced their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company lowered their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Finally, Evercore ISI upped their price objective on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.