MetLife Investment Management LLC Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

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

Several other institutional investors have also recently added to or reduced their stakes in CAH. Eastern Bank acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health in the second quarter valued at about $27,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health during the 2nd quarter worth approximately $29,000. Finally, Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

NYSE:CAH opened at $122.24 on Friday. The stock has a market cap of $29.58 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.53 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The business has a fifty day moving average of $114.75 and a 200-day moving average of $106.52.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Morgan Stanley increased their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average 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.