Mitsubishi UFJ Asset Management Co. Ltd. Purchases 23,140 Shares of Cardinal Health, Inc. (NYSE:CAH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 433,810 shares of the company’s stock after buying an additional 23,140 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Cardinal Health worth $51,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cyrus J. Lawrence LLC bought a new stake in Cardinal Health during the fourth quarter worth about $26,000. Promus Capital LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $30,000. Lee Danner & Bass Inc. purchased a new stake in shares of Cardinal Health in the 4th quarter worth approximately $35,000. Kentucky Trust Co bought a new position in Cardinal Health during the 4th quarter valued at approximately $41,000. Finally, HHM Wealth Advisors LLC raised its stake in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after buying an additional 144 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.2 %

Cardinal Health stock opened at $136.43 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $137.18. The company has a market cap of $32.96 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66. The business has a 50-day simple moving average of $128.36 and a two-hundred day simple moving average of $120.76.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.48%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CAH shares. JPMorgan Chase & Co. raised their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

About Cardinal Health

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.