Cardinal Health, Inc. (NYSE:CAH) Receives $107.57 Average Price Target from Analysts

Cardinal Health, Inc. (NYSE:CAH) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $107.57.

Several equities analysts recently issued reports on CAH shares. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday. Robert W. Baird reduced their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Evercore ISI raised their price objective on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. UBS Group raised their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allworth Financial LP boosted its stake in Cardinal Health by 41.5% during the third quarter. Allworth Financial LP now owns 1,675 shares of the company’s stock valued at $145,000 after buying an additional 491 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Cardinal Health by 19.1% during the third quarter. Orion Portfolio Solutions LLC now owns 31,224 shares of the company’s stock valued at $2,711,000 after buying an additional 5,014 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in Cardinal Health by 5.6% during the third quarter. New Mexico Educational Retirement Board now owns 13,204 shares of the company’s stock valued at $1,146,000 after buying an additional 700 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Cardinal Health by 3.9% during the third quarter. Daiwa Securities Group Inc. now owns 27,258 shares of the company’s stock valued at $2,367,000 after buying an additional 1,015 shares in the last quarter. Finally, FDx Advisors Inc. boosted its stake in Cardinal Health by 8.8% during the third quarter. FDx Advisors Inc. now owns 2,378 shares of the company’s stock valued at $206,000 after buying an additional 192 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.2 %

Cardinal Health stock opened at $96.11 on Friday. The stock has a market cap of $23.41 billion, a P/E ratio of 42.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.71. The stock has a 50 day moving average of $105.03 and a 200-day moving average of $105.47. Cardinal Health has a 52 week low of $80.90 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 EPS. As a group, equities analysts predict that Cardinal Health will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

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.