MetLife Investment Advisors LLC Reduces Position in Cardinal Health Inc (NYSE:CAH)

MetLife Investment Advisors LLC trimmed its position in shares of Cardinal Health Inc (NYSE:CAH) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,714 shares of the company’s stock after selling 490 shares during the period. MetLife Investment Advisors LLC’s holdings in Cardinal Health were worth $4,079,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc raised its holdings in Cardinal Health by 22.0% in the 3rd quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock worth $1,513,186,000 after acquiring an additional 5,058,369 shares during the period. BlackRock Inc. increased its holdings in shares of Cardinal Health by 8.9% during the 4th quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock worth $1,165,655,000 after purchasing an additional 2,134,377 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cardinal Health by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock worth $362,149,000 after purchasing an additional 290,620 shares during the period. American International Group Inc. increased its stake in Cardinal Health by 6.2% in the fourth quarter. American International Group Inc. now owns 7,831,671 shares of the company’s stock valued at $349,293,000 after acquiring an additional 460,358 shares during the period. Finally, American Century Companies Inc. increased its stake in Cardinal Health by 15.9% in the fourth quarter. American Century Companies Inc. now owns 5,855,367 shares of the company’s stock valued at $261,149,000 after acquiring an additional 804,399 shares during the period. 88.50% of the stock is owned by institutional investors.

CAH has been the topic of a number of analyst reports. ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Wolfe Research started coverage on shares of Iqvia in a research note on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Finally, Guggenheim started coverage on shares of Patterson Companies in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average target price of $56.20.

Shares of CAH stock traded down $0.67 during trading hours on Friday, reaching $47.59. 2,413,087 shares of the company were exchanged, compared to its average volume of 2,377,316. Cardinal Health Inc has a fifty-two week low of $42.01 and a fifty-two week high of $58.31. The business has a fifty day moving average price of $45.38. The firm has a market cap of $14.38 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 1.50 and a beta of 1.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 1.07.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The business had revenue of $35.23 billion during the quarter, compared to analyst estimates of $35.09 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Cardinal Health Inc will post 5.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.4811 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, June 28th. Cardinal Health’s dividend payout ratio is currently 38.40%.

Cardinal Health Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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