Cardinal Health (NYSE:CAH) Sets New 52-Week High on Analyst Upgrade

Cardinal Health, Inc. (NYSE:CAH)’s share price reached a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $221.00 to $237.00. Wells Fargo & Company currently has an overweight rating on the stock. Cardinal Health traded as high as $214.93 and last traded at $214.43, with a volume of 103655 shares trading hands. The stock had previously closed at $213.56.

Several other brokerages have also weighed in on CAH. UBS Group upped their price objective on shares of Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $244.00 in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. TD Cowen upped their target price on Cardinal Health from $183.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Mizuho set a $222.00 target price on Cardinal Health in a report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $216.33.

Hedge Funds Weigh In On Cardinal Health

Several large investors have recently bought and sold shares of the stock. Aventura Private Wealth LLC bought a new stake in Cardinal Health in the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. raised its position in shares of Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Atlantic Edge Private Wealth Management LLC raised its position in shares of Cardinal Health by 75.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 75 shares during the period. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Cardinal Health by 38.7% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock valued at $39,000 after buying an additional 53 shares in the last quarter. Finally, Turning Point Benefit Group Inc. bought a new position in Cardinal Health in the 3rd quarter worth approximately $31,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

The business’s 50 day moving average is $205.19 and its two-hundred day moving average is $174.32. The firm has a market capitalization of $50.67 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, October 30th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The firm had revenue of $64.01 billion during the quarter, compared to analyst estimates of $59.41 billion. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, January 2nd. Cardinal Health’s payout ratio is presently 30.77%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.