Cardinal Health (NYSE:CAH) Price Target Raised to $115.00

Cardinal Health (NYSE:CAH) had its price objective lifted by Evercore ISI from $110.00 to $115.00 in a report released on Friday, Benzinga reports. They currently have an in-line rating on the stock.

Other research analysts have also issued reports about the company. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research report on Monday, February 5th. StockNews.com raised Cardinal Health from a buy rating to a strong-buy rating in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a research report on Monday, April 29th. Robert W. Baird dropped their price target on shares of Cardinal Health from $134.00 to $128.00 and set an outperform rating on the stock in a research report on Friday. Finally, Argus raised shares of Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $105.79.

Cardinal Health Trading Down 4.0 %

Shares of CAH stock opened at $98.91 on Friday. The business’s 50-day moving average price is $109.10 and its 200-day moving average price is $105.09. Cardinal Health has a 12 month low of $77.56 and a 12 month high of $116.04. The firm has a market capitalization of $24.06 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 0.99 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.74 EPS. On average, sell-side analysts predict that Cardinal Health will post 7.34 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s payout ratio is 88.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter worth approximately $258,499,000. Ameriprise Financial Inc. raised its holdings in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after buying an additional 823,520 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at about $464,800,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Cardinal Health by 1,941.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after acquiring an additional 435,722 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

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.