Cardinal Health, Inc. (NYSE:CAH) Receives $103.07 Average PT from Brokerages

Shares of Cardinal Health, Inc. (NYSE:CAH) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $103.07.

Several research firms have recently weighed in on CAH. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. UBS Group increased their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Barclays began coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. Finally, TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th.

Institutional Trading of Cardinal Health

Several hedge funds have recently added to or reduced their stakes in the business. Clearstead Trust LLC bought a new stake in Cardinal Health during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new position in Cardinal Health during the 3rd quarter valued at about $26,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $30,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

Shares of CAH stock opened at $103.54 on Monday. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 40.76, a P/E/G ratio of 0.99 and a beta of 0.68. Cardinal Health has a 52 week low of $77.56 and a 52 week high of $116.04. The firm’s 50-day simple moving average is $109.56 and its two-hundred day simple moving average is $104.59.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same quarter last year, the business posted $1.32 EPS. Cardinal Health’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Cardinal Health will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s payout ratio is currently 78.74%.

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.