Mitsubishi UFJ Asset Management Co. Ltd. Has $79.19 Million Holdings in Cardinal Health, Inc. $CAH

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 504,523 shares of the company’s stock after purchasing an additional 13,177 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $79,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. SJS Investment Consulting Inc. boosted its position in shares of Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the period. American Capital Advisory LLC increased its stake in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after acquiring an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 71 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Cardinal Health in the third quarter worth $35,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research analyst reports. Evercore boosted their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Barclays lifted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. UBS Group set a $260.00 target price on Cardinal Health and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Robert W. Baird set a $252.00 price target on Cardinal Health in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $245.20.

Cardinal Health Trading Up 0.8%

Cardinal Health stock opened at $228.85 on Friday. The firm has a 50 day simple moving average of $214.08 and a 200 day simple moving average of $186.94. The firm has a market capitalization of $53.85 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 1.46 and a beta of 0.64. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $230.81.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.