Mitsubishi UFJ Asset Management Co. Ltd. Buys 16,871 Shares of Cardinal Health, Inc. $CAH

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 491,346 shares of the company’s stock after purchasing an additional 16,871 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $82,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Atlantic Edge Private Wealth Management LLC increased its position in shares of Cardinal Health by 75.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Cardinal Health during the first quarter worth about $26,000. NewSquare Capital LLC increased its holdings in shares of Cardinal Health by 100.0% during the second quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock worth $36,000 after buying an additional 107 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. Finally, Harbor Asset Planning Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Robert W. Baird set a $232.00 price target on Cardinal Health in a report on Friday, October 31st. Mizuho raised their target price on Cardinal Health from $170.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. UBS Group increased their price objective on shares of Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group set a $220.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Monday, November 3rd. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Cardinal Health Trading Up 2.7%

Shares of NYSE:CAH opened at $203.40 on Monday. Cardinal Health, Inc. has a 1-year low of $114.60 and a 1-year high of $203.67. The stock has a market capitalization of $48.33 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.39 and a beta of 0.72. The business has a 50-day moving average price of $160.02 and a two-hundred day moving average price of $156.87.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.22 by $0.33. The company had revenue of $64.01 billion during the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. Cardinal Health’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.5107 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s payout ratio is presently 30.77%.

Insider Buying and Selling

In other news, insider Ola M. Snow sold 28,151 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the transaction, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. This trade represents a 64.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 38,078 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $5,666,767.96. Following the completion of the sale, the insider owned 48,457 shares of the company’s stock, valued at $7,211,370.74. This represents a 44.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 271,676 shares of company stock worth $40,489,525 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

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.