Sumitomo Mitsui Trust Group Inc. Cuts Position in Cardinal Health, Inc. $CAH

Key Points

• Sumitomo Mitsui Trust Group trimmed its Cardinal Health stake by 5.7% in the first quarter, selling 34,350 shares and ending with 569,204 shares valued at about $120.3 million.
• Cardinal Health shares rose 0.8% to $235.54, near their 52-week high of $243.21, with the company carrying a market cap of $55.16 billion.
• The company beat quarterly EPS estimates, reporting $3.17 per share versus the expected $2.79, and it also raised its quarterly dividend slightly to $0.5158 per share.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 569,204 shares of the company's stock after selling 34,350 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Cardinal Health worth $120,278,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CAH. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health during the fourth quarter worth about $26,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the fourth quarter worth about $27,000. Indiana Trust & Investment Management Co purchased a new position in Cardinal Health in the first quarter valued at about $29,000. Finally, Palladiem LLC purchased a new position in Cardinal Health in the fourth quarter valued at about $28,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.8%

Shares of CAH stock traded up $1.77 during trading hours on Friday, hitting $235.54. The company's stock had a trading volume of 2,842,646 shares, compared to its average volume of 2,287,700. The business has a fifty day moving average of $212.35 and a 200-day moving average of $212.99. The stock has a market cap of $55.16 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 1.15 and a beta of 0.49. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $243.21.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The firm had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the previous year, the firm posted $2.35 EPS. The company's quarterly revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 10.76 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.5158 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.50%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CAH. JPMorgan Chase & Co. reduced their price target on shares of Cardinal Health from $243.00 to $215.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. William Blair assumed coverage on Cardinal Health in a research note on Tuesday, April 28th. They issued an "outperform" rating for the company. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Zacks Research downgraded Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.13.

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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