Cardinal Health (NYSE:CAH) Hits New 52-Week High Following Analyst Upgrade

Cardinal Health, Inc. (NYSE:CAH) reached a new 52-week high during trading on Monday after Leerink Partners raised their price target on the stock from $211.00 to $230.00. Leerink Partners currently has an outperform rating on the stock. Cardinal Health traded as high as $208.32 and last traded at $205.3630, with a volume of 2524096 shares changing hands. The stock had previously closed at $206.06.

Several other analysts have also issued reports on CAH. TD Cowen upped their price target on shares of Cardinal Health from $183.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Citigroup upped their target price on shares of Cardinal Health from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Argus raised their target price on shares of Cardinal Health from $189.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company boosted their price target on Cardinal Health from $185.00 to $221.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group set a $220.00 price objective on Cardinal Health and gave the company a “buy” rating in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.46.

Insider Buying and Selling at Cardinal Health

In related news, CEO Stephen M. Mason sold 41,575 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the completion of the sale, the chief executive officer directly owned 26,085 shares in the company, valued at $3,881,969.70. The trade was a 61.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michelle D. Greene sold 13,500 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the transaction, the insider owned 14,976 shares in the company, valued at $2,228,728.32. The trade was a 47.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 271,676 shares of company stock worth $40,489,525 in the last 90 days. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Cardinal Health

A number of institutional investors have recently bought and sold shares of the business. Gotham Asset Management LLC increased its holdings in shares of Cardinal Health by 18.8% during the third quarter. Gotham Asset Management LLC now owns 133,009 shares of the company’s stock worth $20,877,000 after purchasing an additional 21,077 shares during the period. Focus Partners Wealth grew its position in Cardinal Health by 1,732.3% during the third quarter. Focus Partners Wealth now owns 369,076 shares of the company’s stock worth $57,930,000 after buying an additional 348,933 shares in the last quarter. Distillate Capital Partners LLC bought a new position in Cardinal Health during the 3rd quarter worth $18,647,000. Cinctive Capital Management LP acquired a new position in Cardinal Health in the 3rd quarter valued at $7,892,000. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Cardinal Health during the 3rd quarter valued at $4,210,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

The company has a market capitalization of $49.30 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The firm has a fifty day moving average price of $165.58 and a 200-day moving average price of $159.21.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.33. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business had revenue of $64.01 billion during the quarter, compared to analysts’ expectations of $59.41 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. Cardinal Health’s revenue was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Friday, January 2nd will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 30.77%.

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.