Cardinal Health (NYSE:CAH) Price Target Raised to $170.00

Cardinal Health (NYSE:CAH) had its price target increased by Bank of America from $165.00 to $170.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley lifted their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. Citigroup restated a “neutral” rating on shares of Cardinal Health in a report on Thursday, May 1st. Finally, Mizuho boosted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.43.

Cardinal Health Stock Up 4.5%

Shares of NYSE CAH opened at $160.43 on Tuesday. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $161.07. The firm has a fifty day moving average of $145.31 and a 200-day moving average of $132.35. The stock has a market capitalization of $38.29 billion, a PE ratio of 29.93, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same period in the previous year, the company earned $2.08 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts expect that Cardinal Health will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.27%. Cardinal Health’s dividend payout ratio is 31.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CAH. Strategic Financial Concepts LLC bought a new position in Cardinal Health in the 4th quarter worth about $93,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Cardinal Health by 2.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 7,870 shares of the company’s stock valued at $931,000 after acquiring an additional 211 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Cardinal Health by 23.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,593 shares of the company’s stock valued at $1,962,000 after acquiring an additional 3,177 shares in the last quarter. Angeles Wealth Management LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $205,000. Finally, Essex Financial Services Inc. bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $213,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.