Cardinal Health (NYSE:CAH) Price Target Raised to $260.00

Cardinal Health (NYSE:CAH) had its price target boosted by JPMorgan Chase & Co. from $215.00 to $260.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Evercore reiterated an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup lifted their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday. William Blair assumed coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $265.93.

Cardinal Health Trading Up 1.6%

NYSE CAH opened at $234.92 on Thursday. The stock has a market cap of $54.64 billion, a PE ratio of 32.49, a P/E/G ratio of 1.39 and a beta of 0.49. Cardinal Health has a twelve month low of $145.87 and a twelve month high of $258.30. The stock has a fifty day simple moving average of $230.30 and a 200-day simple moving average of $217.14.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Research analysts predict that Cardinal Health will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

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

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently added to or reduced their stakes in CAH. University of Texas Texas AM Investment Management Co. purchased a new position in Cardinal Health in the 4th quarter valued at approximately $26,000. Bank of Jackson Hole Trust acquired a new stake in shares of Cardinal Health in the fourth quarter valued at $27,000. Jones Financial Companies Lllp raised its stake in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares in the last quarter. Palladiem LLC purchased a new position in Cardinal Health in the fourth quarter valued at $28,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the 1st quarter worth $29,000. 87.17% of the stock is owned by hedge funds and other 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.