Cardinal Health (NYSE:CAH) Price Target Raised to $240.00 at Mizuho

Cardinal Health (NYSE:CAH) had its price target raised by Mizuho from $235.00 to $240.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Evercore cut their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Robert W. Baird set a $248.00 price target on Cardinal Health in a research note on Friday, May 1st. Citigroup restated a “buy” rating on shares of Cardinal Health in a report on Thursday, July 2nd. Finally, Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $250.40.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $225.54 on Thursday. The company has a market cap of $52.82 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 1.08 and a beta of 0.49. The firm has a 50 day simple moving average of $219.32 and a 200 day simple moving average of $214.34. Cardinal Health has a one year low of $137.75 and a one year high of $243.21.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The firm had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, analysts expect that Cardinal Health will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.5158 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 31.50%.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Cardinal Health during the 4th quarter worth about $790,344,000. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Marshall Wace LLP grew its stake in Cardinal Health by 1,328.1% during the fourth quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock worth $195,484,000 after purchasing an additional 884,648 shares during the period. Bessemer Group Inc. increased its holdings in Cardinal Health by 7,053.4% in the first quarter. Bessemer Group Inc. now owns 750,038 shares of the company’s stock worth $158,491,000 after purchasing an additional 739,553 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after buying an additional 617,775 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.