Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Eastern Bank bought a new stake in Cardinal Health during the 3rd quarter valued at $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the second quarter valued at about $27,000. Hara Capital LLC purchased a new stake in shares of Cardinal Health during the third quarter worth about $31,000. LRI Investments LLC bought a new stake in shares of Cardinal Health in the first quarter worth about $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Activity

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares of the company's stock, valued at $4,015,184.97. This trade represents a 5.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares in the company, valued at $21,546,276.72. This trade represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,351 shares of company stock valued at $7,565,843 in the last ninety days. Insiders own 0.09% of the company's stock.

Cardinal Health Stock Down 2.1 %

Shares of Cardinal Health stock traded down $2.51 on Friday, reaching $118.78. The stock had a trading volume of 2,204,617 shares, compared to its average volume of 2,112,748. The stock has a market capitalization of $28.75 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.56 and a beta of 0.60. The company has a 50 day moving average price of $113.14 and a 200 day moving average price of $105.18. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating 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 firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health's dividend payout ratio is presently 39.30%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CAH shares. Morgan Stanley boosted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Argus increased their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a report on Monday, November 4th. Finally, Citigroup dropped their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a "neutral" rating for the company in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

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.