Mufg Securities Americas Inc. Purchases Shares of 3,573 Cardinal Health, Inc. (NYSE:CAH)

Mufg Securities Americas Inc. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,573 shares of the company's stock, valued at approximately $423,000.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cardinal Health by 35.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock worth $3,871,000 after purchasing an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company's stock worth $28,435,000 after buying an additional 3,576 shares during the last quarter. Consolidated Planning Corp increased its stake in shares of Cardinal Health by 40.0% during the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock worth $1,056,000 after purchasing an additional 2,552 shares during the last quarter. Flputnam Investment Management Co. increased its position in Cardinal Health by 1.8% in the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock worth $21,358,000 after buying an additional 3,148 shares during the last quarter. Finally, Patton Albertson Miller Group LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $258,000. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho upped their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. JPMorgan Chase & Co. raised their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. UBS Group raised their price objective on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.

Cardinal Health Trading Down 0.3%

CAH traded down $0.47 during midday trading on Monday, reaching $153.78. The company's stock had a trading volume of 1,578,644 shares, compared to its average volume of 2,230,646. The company has a fifty day simple moving average of $137.09 and a 200 day simple moving average of $127.92. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $154.68. The stock has a market cap of $36.70 billion, a P/E ratio of 28.69, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 earnings per share. Sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.33%. Cardinal Health's dividend payout ratio is presently 31.83%.

Cardinal Health Profile

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.