Cardinal Health (NYSE:CAH) Price Target Raised to $274.00

Cardinal Health (NYSE:CAH) had its target price lifted by Robert W. Baird from $251.00 to $274.00 in a research note published on Wednesday morning, Marketbeat reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Leerink Partners set a $292.00 price objective on Cardinal Health in a research note on Tuesday. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Citigroup upped their price target on shares of Cardinal Health from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Finally, William Blair assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $234.92 on Wednesday. The business’s 50-day simple moving average is $230.30 and its 200-day simple moving average is $217.14. Cardinal Health has a 52 week low of $145.87 and a 52 week high of $258.30. The firm has a market cap of $54.64 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 1.37 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter last year, the firm posted $2.08 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts forecast that Cardinal Health will post 12.52 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s payout ratio is 28.49%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Investors Research Corp acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cardinal Health in the 4th quarter valued at about $26,000. Allied Private Wealth LLC bought a new position in Cardinal Health during the second quarter worth about $30,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the fourth quarter worth approximately $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the first quarter worth approximately $29,000. 87.17% of the stock is currently owned by institutional investors.

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.