Sumitomo Mitsui Trust Group Inc. Purchases 5,600 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui Trust Group Inc. raised its position in Cardinal Health, Inc. (NYSE:CAH) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 621,508 shares of the company’s stock after purchasing an additional 5,600 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Cardinal Health worth $68,689,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CAH. Kingsview Wealth Management LLC acquired a new stake in Cardinal Health during the 1st quarter worth approximately $593,000. Orion Portfolio Solutions LLC grew its stake in shares of Cardinal Health by 10.1% in the first quarter. Orion Portfolio Solutions LLC now owns 37,067 shares of the company’s stock worth $4,148,000 after purchasing an additional 3,409 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in Cardinal Health by 97.6% in the first quarter. Mizuho Markets Americas LLC now owns 95,690 shares of the company’s stock valued at $10,708,000 after purchasing an additional 47,274 shares during the period. First Foundation Advisors bought a new position in Cardinal Health during the 1st quarter worth $42,000. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in Cardinal Health by 1.5% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 52,987 shares of the company’s stock worth $5,929,000 after buying an additional 800 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cardinal Health

In other news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. The trade was a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 17.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,351 shares of company stock valued at $7,565,843. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CAH shares. Mizuho increased their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Morgan Stanley raised their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Robert W. Baird lifted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Trading Down 3.2 %

Shares of CAH stock opened at $121.32 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The firm has a market capitalization of $29.36 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60. The firm has a fifty day simple moving average of $113.00 and a two-hundred day simple moving average of $105.07.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is presently 39.30%.

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.