Cardinal Health, Inc. $CAH Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its stake in Cardinal Health by 4.2% in Q4, selling 26,143 shares and ending the quarter with 603,554 shares worth about $124.03 million.
• Cardinal Health beat Q4 estimates with $2.63 EPS (vs. $2.31 expected) and $65.63 billion in revenue (up 18.8% YoY), but reported a very slim net margin (0.68%) and a negative return on equity (-92.5%).
• The company announced a quarterly dividend of $0.5107 per share (annualized $2.04, ~1.0% yield) with an ex-dividend date of April 1, while analysts remain mostly positive with a consensus target of about $244.33 (Moderate Buy).

Sumitomo Mitsui Trust Group Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,554 shares of the company's stock after selling 26,143 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Cardinal Health worth $124,030,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. lifted its holdings in Cardinal Health by 0.5% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company's stock worth $1,902,000 after buying an additional 48 shares in the last quarter. Latitude Advisors LLC lifted its holdings in Cardinal Health by 2.1% in the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company's stock worth $408,000 after buying an additional 53 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its holdings in Cardinal Health by 38.7% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company's stock worth $39,000 after buying an additional 53 shares in the last quarter. MFA Wealth Services lifted its holdings in Cardinal Health by 2.3% in the 3rd quarter. MFA Wealth Services now owns 2,491 shares of the company's stock worth $391,000 after buying an additional 55 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in Cardinal Health by 2.2% in the 4th quarter. Moody National Bank Trust Division now owns 2,696 shares of the company's stock worth $554,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Down 0.7%

Shares of NYSE:CAH opened at $214.11 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $129.52 and a fifty-two week high of $233.60. The firm has a 50-day simple moving average of $217.75 and a 200 day simple moving average of $201.60. The company has a market cap of $50.38 billion, a PE ratio of 30.81, a P/E/G ratio of 1.39 and a beta of 0.64.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health's dividend payout ratio is currently 29.35%.

Analyst Ratings Changes

A number of brokerages have commented on CAH. Barclays boosted their price objective on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an "overweight" rating in a report on Tuesday, February 24th. TD Cowen upped their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Zacks Research upgraded shares of Cardinal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the company a "buy" rating in a research note on Friday, February 6th. Finally, Argus upped their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and a consensus target price of $244.33.

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.

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