Cardinal Health (NYSE:CAH) Price Target Raised to $190.00

Cardinal Health (NYSE:CAH) had its target price increased by Morgan Stanley from $181.00 to $190.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently commented on CAH. Robert W. Baird increased their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Citigroup reiterated a “neutral” rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. UBS Group increased their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.07.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $159.45 on Wednesday. Cardinal Health has a 52 week low of $94.29 and a 52 week high of $168.44. The company has a market capitalization of $38.06 billion, a PE ratio of 24.88, a PEG ratio of 1.58 and a beta of 0.68. The company has a 50 day moving average price of $158.68 and a two-hundred day moving average price of $140.19.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.5107 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.28%. The ex-dividend date was Tuesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 31.83%.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in Cardinal Health by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company’s stock worth $43,510,000 after buying an additional 15,956 shares during the period. Huntington National Bank boosted its position in Cardinal Health by 1.2% during the 4th quarter. Huntington National Bank now owns 10,920 shares of the company’s stock worth $1,292,000 after buying an additional 128 shares during the period. Kingswood Wealth Advisors LLC boosted its position in Cardinal Health by 17.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company’s stock worth $429,000 after buying an additional 457 shares during the period. Assenagon Asset Management S.A. boosted its position in Cardinal Health by 25.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock worth $1,811,000 after buying an additional 2,694 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in Cardinal Health by 569.5% during the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company’s stock worth $54,000 after buying an additional 336 shares during the period. 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.