Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 664,296 shares of the company's stock after selling 11,595 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Cardinal Health worth $66,961,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new position in shares of Cardinal Health in the third quarter valued at approximately $26,000. BKM Wealth Management LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $30,000. Retirement Group LLC grew its holdings in shares of Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company's stock valued at $35,000 after purchasing an additional 431 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $41,000. Finally, Headlands Technologies LLC acquired a new position in shares of Cardinal Health in the third quarter valued at approximately $47,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 2.1 %

CAH stock traded up $2.19 on Friday, hitting $108.19. The company's stock had a trading volume of 1,486,096 shares, compared to its average volume of 2,234,658. The firm has a 50 day moving average of $109.53 and a two-hundred day moving average of $104.03. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 42.15, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. Cardinal Health's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.85%. Cardinal Health's dividend payout ratio (DPR) is 78.74%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Argus upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating in a report on Friday, February 9th. Barclays assumed coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They set an "overweight" rating and a $117.00 price target for the company. Leerink Partnrs reiterated an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group boosted their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, February 5th. Finally, SVB Leerink assumed coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an "outperform" rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $103.07.

About Cardinal Health

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.