Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Cardinal Health by 9.4% during the first quarter, now owning approximately 0.20% of the company worth $65.4 million.
• Several other investors, including Cerity Partners LLC and Raymond James Financial Inc., also made significant adjustments to their stakes in Cardinal Health in the fourth quarter.
• Brokerages have recently raised their price targets for Cardinal Health, with Morgan Stanley increasing theirs from $181.00 to $190.00 and maintaining an "overweight" rating for the stock.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 474,475 shares of the company's stock after purchasing an additional 40,665 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Cardinal Health worth $65,368,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Greykasell Wealth Strategies Inc. acquired a new position in shares of Cardinal Health during the 1st quarter worth approximately $26,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $32,000. Tompkins Financial Corp increased its holdings in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after acquiring an additional 128 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $36,000. Finally, GW&K Investment Management LLC increased its holdings in shares of Cardinal Health by 113.4% during the 1st quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAH. Jefferies Financial Group set a $150.00 target price on Cardinal Health in a report on Tuesday. Wall Street Zen downgraded Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup restated a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Bank of America boosted their price target on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Evercore ISI restated an "outperform" rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

Cardinal Health Stock Down 7.1%

NYSE:CAH traded down $11.15 on Tuesday, hitting $146.51. The stock had a trading volume of 7,842,311 shares, compared to its average volume of 2,410,796. The business's fifty day moving average is $160.10 and its 200 day moving average is $144.16. The company has a market cap of $34.97 billion, a PE ratio of 22.86, a P/E/G ratio of 1.56 and a beta of 0.67. Cardinal Health, Inc. has a 52 week low of $100.80 and a 52 week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The business had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same period last year, the company posted $1.84 earnings per share. Cardinal Health's quarterly revenue was up .5% compared to the same quarter last year. Equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

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.