Cardinal Health, Inc. (NYSE:CAH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have received an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $224.7333.

A number of research firms have recently issued reports on CAH. Barclays initiated coverage on Cardinal Health in a research note on Monday, December 8th. They issued an “overweight” rating and a $243.00 price target on the stock. Wells Fargo & Company raised their target price on Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. UBS Group boosted their price target on Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Morgan Stanley increased their price objective on shares of Cardinal Health from $224.00 to $245.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Mizuho set a $222.00 target price on shares of Cardinal Health in a research report on Monday, January 12th.

Cardinal Health Stock Up 1.7%

Shares of CAH stock opened at $214.85 on Friday. The company has a 50 day moving average price of $206.24 and a 200-day moving average price of $178.02. Cardinal Health has a 52 week low of $120.72 and a 52 week high of $216.51. The firm has a market capitalization of $51.05 billion, a PE ratio of 32.41, a P/E/G ratio of 1.44 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.33. The company had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted $1.88 earnings per share. Analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. increased its position in Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp increased its holdings in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in Cardinal Health by 75.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after acquiring an additional 75 shares during the period. Finally, JPL Wealth Management LLC purchased a new position in Cardinal Health during the third quarter valued at approximately $31,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Company Profile

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.