Sumitomo Mitsui Trust Group Inc. Reduces Stake in Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui Trust Group Inc. reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 617,774 shares of the company's stock after selling 2,055 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Cardinal Health worth $85,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. Pinnacle Bancorp Inc. raised its holdings in Cardinal Health by 11.2% in the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after purchasing an additional 77 shares during the period. CSS LLC IL raised its holdings in Cardinal Health by 0.8% in the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after purchasing an additional 90 shares during the period. Perigon Wealth Management LLC raised its holdings in Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after purchasing an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV raised its holdings in Cardinal Health by 2.1% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after purchasing an additional 91 shares during the period. Finally, Private Trust Co. NA raised its holdings in Cardinal Health by 11.0% in the 4th quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after purchasing an additional 92 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Robert W. Baird raised their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Evercore ISI reissued an "outperform" rating and set a $180.00 price target (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Finally, Bank of America raised their price target on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health Stock Up 1.0%

Shares of Cardinal Health stock opened at $167.18 on Monday. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.87 and a beta of 0.66. The business has a 50-day moving average price of $152.57 and a 200-day moving average price of $135.77. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $168.17.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. On average, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.22%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is currently 31.51%.

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.

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