Sumitomo Mitsui Trust Holdings Inc. Has $66.96 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,296 shares of the company’s stock after selling 11,595 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Cardinal Health worth $66,961,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CAH. Norges Bank acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $220,230,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter worth approximately $215,893,000. Ameriprise Financial Inc. raised its holdings in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares in the last quarter. Nomura Holdings Inc. raised its holdings in shares of Cardinal Health by 677.5% in the 1st quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock worth $101,986,000 after buying an additional 1,177,066 shares in the last quarter. Finally, Man Group plc increased its holdings in Cardinal Health by 68.3% during the 4th quarter. Man Group plc now owns 1,477,702 shares of the company’s stock valued at $113,591,000 after purchasing an additional 599,698 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH opened at $106.00 on Friday. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04. The firm has a market capitalization of $25.78 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 1.03 and a beta of 0.68. The business’s fifty day moving average price is $109.53 and its two-hundred day moving average price is $104.03.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent analyst reports. Barclays initiated coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. UBS Group raised their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health 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.