Cardinal Health (NYSE:CAH) Price Target Cut to $94.00 by Analysts at Wells Fargo & Company

Cardinal Health (NYSE:CAH) had its price objective lowered by Wells Fargo & Company from $96.00 to $94.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Argus upgraded Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. Barclays assumed coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an overweight rating and a $117.00 price objective on the stock. StockNews.com lowered shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Wednesday, April 24th. Finally, UBS Group raised their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $102.93.

Cardinal Health Stock Down 0.3 %

Shares of NYSE:CAH opened at $102.93 on Monday. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04. The stock’s 50 day moving average is $109.48 and its 200-day moving average is $104.93. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 1.04 and a beta of 0.68.

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

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently bought and sold shares of CAH. Allspring Global Investments Holdings LLC raised its stake in shares of Cardinal Health by 379.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock valued at $11,873,000 after buying an additional 83,975 shares during the period. Principal Financial Group Inc. raised its stake in Cardinal Health by 0.8% in the 1st quarter. Principal Financial Group Inc. now owns 302,449 shares of the company’s stock valued at $33,844,000 after acquiring an additional 2,403 shares during the period. Benjamin Edwards Inc. lifted its holdings in Cardinal Health by 40.2% during the first quarter. Benjamin Edwards Inc. now owns 499 shares of the company’s stock valued at $56,000 after purchasing an additional 143 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Cardinal Health by 3.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,945 shares of the company’s stock worth $553,000 after purchasing an additional 167 shares during the period. Finally, Summit Global Investments increased its stake in shares of Cardinal Health by 1,075.4% in the first quarter. Summit Global Investments now owns 115,544 shares of the company’s stock worth $12,929,000 after purchasing an additional 105,714 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

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.