Cardinal Health (NYSE:CAH) Sets New 12-Month High Following Analyst Upgrade

Shares of Cardinal Health, Inc. (NYSE:CAH) reached a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $150.00 to $160.00. UBS Group currently has a buy rating on the stock. Cardinal Health traded as high as $139.97 and last traded at $139.79, with a volume of 499827 shares changing hands. The stock had previously closed at $138.24.

A number of other equities analysts have also recently weighed in on the company. Bank of America boosted their price target on Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, April 11th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Mizuho upped their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Finally, Morgan Stanley lifted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.36.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its stake in shares of Cardinal Health by 11.2% during the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company’s stock valued at $106,000 after acquiring an additional 77 shares in the last quarter. Rothschild Investment LLC grew its stake in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after purchasing an additional 79 shares in the last quarter. CSS LLC IL increased its holdings in Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company’s stock worth $1,323,000 after purchasing an additional 90 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company’s stock valued at $309,000 after purchasing an additional 90 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV boosted its stake in shares of Cardinal Health by 2.1% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company’s stock valued at $606,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

The business’s 50-day moving average price is $131.30 and its two-hundred day moving average price is $124.38. The firm has a market cap of $33.77 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

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.