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

Cardinal Health, Inc. (NYSE:CAHGet Free Report) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $109.67.

CAH has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Argus lowered their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Evercore ISI upped their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Robert W. Baird decreased 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 note on Friday, May 3rd. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Get Our Latest Stock Report on CAH

Cardinal Health Stock Performance

Shares of CAH stock opened at $95.89 on Friday. Cardinal Health has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The company has a market capitalization of $23.36 billion, a P/E ratio of 42.62, a PEG ratio of 1.06 and a beta of 0.61. The stock has a 50 day moving average price of $99.18 and a two-hundred day moving average price of $104.26.

Cardinal Health (NYSE:CAHGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same period in the prior year, the firm earned $1.74 earnings per share. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.5056 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Cardinal Health in the 4th quarter worth $258,499,000. California Public Employees Retirement System raised its holdings in Cardinal Health by 118.9% in the 4th 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 during the period. Acadian Asset Management LLC increased its position in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $56,454,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Cardinal Health by 265.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after acquiring an additional 477,682 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Company Profile

(Get 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.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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