Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Cardinal Health, Inc. (NYSE:CAHFree Report) by 2.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,848 shares of the company’s stock after selling 4,940 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Cardinal Health worth $14,833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd boosted its holdings in Cardinal Health by 59.8% in the second quarter. Covestor Ltd now owns 294 shares of the company’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Cypress Capital Group lifted its stake in Cardinal Health by 0.7% in the third quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock valued at $1,487,000 after buying an additional 111 shares during the last quarter. MBM Wealth Consultants LLC lifted its stake in Cardinal Health by 3.7% in the third quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company’s stock valued at $302,000 after buying an additional 115 shares during the last quarter. Veritable L.P. lifted its stake in Cardinal Health by 1.7% in the second quarter. Veritable L.P. now owns 7,150 shares of the company’s stock valued at $676,000 after buying an additional 119 shares during the last quarter. Finally, Keystone Wealth Services LLC lifted its stake in Cardinal Health by 3.7% in the third quarter. Keystone Wealth Services LLC now owns 3,388 shares of the company’s stock valued at $294,000 after buying an additional 121 shares during the last quarter. 86.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cardinal Health

In related news, CEO Deborah Weitzman sold 36,642 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the sale, the chief executive officer now owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. Wells Fargo & Company initiated coverage on Cardinal Health in a research note on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price objective for the company. Barclays started coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday. Finally, UBS Group upped their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.38.

Get Our Latest Analysis on Cardinal Health

Cardinal Health Stock Performance

NYSE:CAH opened at $103.62 on Tuesday. The stock has a fifty day moving average price of $104.31 and a two-hundred day moving average price of $97.27. The stock has a market capitalization of $25.20 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 0.94 and a beta of 0.69. Cardinal Health, Inc. has a 1 year low of $68.53 and a 1 year high of $111.40.

Cardinal Health (NYSE:CAHGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. Cardinal Health’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, analysts predict that Cardinal Health, Inc. will post 7.29 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

Cardinal Health Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.