Mitsubishi UFJ Asset Management Co. Ltd. Invests $141.72 Million in Cardinal Health, Inc. $CAH

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 596,577 shares of the company’s stock, valued at approximately $141,723,000.

Several other hedge funds have also recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC lifted its stake in Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after purchasing an additional 280 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Cardinal Health in the 2nd quarter valued at $1,935,000. Cerity Partners LLC grew its position in Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after acquiring an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC raised its stake in Cardinal Health by 34.4% during the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after acquiring an additional 2,646 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CAH. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Robert W. Baird increased their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Bank of America boosted their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley upped their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Stock Down 0.3%

Shares of NYSE:CAH opened at $234.85 on Wednesday. The firm has a market cap of $54.62 billion, a P/E ratio of 32.48, a P/E/G ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The company’s 50-day moving average price is $231.38 and its two-hundred day moving average price is $217.51.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 12.54 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

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.