Cardinal Health, Inc. (NYSE:CAH) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,983 shares of the company’s stock after selling 1,688 shares during the quarter. MetLife Investment Management LLC’s holdings in Cardinal Health were worth $7,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Eastern Bank bought a new position in shares of Cardinal Health in the third quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter worth $27,000. Frazier Financial Advisors LLC raised its position in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at $29,000. Finally, Hara Capital LLC purchased a new stake in shares of Cardinal Health during the third quarter valued at $31,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Down 0.3 %

NYSE CAH opened at $122.24 on Friday. The company has a 50 day moving average price of $114.75 and a two-hundred day moving average price of $106.52. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The stock has a market capitalization of $29.58 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAH. Morgan Stanley boosted their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Evercore ISI raised their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Mizuho raised their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Barclays increased their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.