15,229 Cardinal Health, Inc. $CAH Shares Sold by Sumitomo Mitsui Trust Group Inc.

by · The Markets Daily

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 543,383 shares of the company’s stock after selling 15,229 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cardinal Health were worth $120,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Downshift Financial LLC raised its holdings in Cardinal Health by 3,666.7% in the 3rd quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 110 shares during the period. Investors Research Corp acquired a new position in Cardinal Health during the 2nd quarter worth $29,000. Maryland Capital Advisors Inc. lifted its position in Cardinal Health by 12,600.0% during the 3rd quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock worth $28,000 after acquiring an additional 126 shares during the last quarter. Allied Private Wealth LLC bought a new stake in Cardinal Health during the second quarter valued at about $30,000. Finally, NBH Bank bought a new stake in Cardinal Health during the second quarter valued at about $31,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jessica Mayer sold 29,436 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the sale, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock valued at $49,626,657 in the last quarter. 0.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group raised their price target on Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, October 16th. Wells Fargo & Company boosted their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Barclays increased their target price on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Leerink Partners set a $292.00 target price on Cardinal Health in a report on Tuesday, August 11th. Finally, Robert W. Baird lifted their price target on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $270.69.

Check Out Our Latest Analysis on Cardinal Health

Cardinal Health Price Performance

NYSE:CAH opened at $254.69 on Tuesday. The stock has a market cap of $58.98 billion, a P/E ratio of 35.23, a PEG ratio of 1.47 and a beta of 0.50. Cardinal Health, Inc. has a one year low of $180.45 and a one year high of $259.84. The company has a fifty day moving average price of $238.24 and a 200 day moving average price of $222.52.

Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.5158 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. Cardinal Health’s dividend payout ratio is currently 28.49%.

Cardinal Health Company Profile

(Free Report)

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.

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