Cardinal Health, Inc. (NYSE:CAH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $103.07.

CAH has been the topic of several research reports. UBS Group upped their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, Barclays initiated coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently added to or reduced their stakes in CAH. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health in the third quarter worth about $26,000. Raleigh Capital Management Inc. increased its holdings in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $30,000. Finally, Clear Street Markets LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $108.19 on Monday. The stock’s fifty day moving average is $109.59 and its 200-day moving average is $104.41. The stock has a market capitalization of $26.32 billion, a PE ratio of 42.59, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health has a 52 week low of $77.56 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. As a group, analysts forecast that Cardinal Health will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

Cardinal Health Company 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.