UBS Group Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target raised by UBS Group from $150.00 to $160.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Argus set a $148.00 target price on shares of Cardinal Health in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.36.

Cardinal Health Price Performance

CAH opened at $139.80 on Tuesday. The firm has a fifty day moving average price of $131.30 and a 200 day moving average price of $124.38. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $140.50. The stock has a market cap of $33.77 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities analysts expect that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.5056 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.45%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock worth $691,145,000 after purchasing an additional 109,273 shares during the period. Invesco Ltd. boosted its stake in Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock worth $376,396,000 after buying an additional 140,368 shares during the period. Marshall Wace LLP increased its position in shares of Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Northern Trust Corp raised its stake in shares of Cardinal Health by 16.2% in the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company’s stock valued at $359,286,000 after acquiring an additional 422,755 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cardinal Health by 4.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company’s stock worth $274,599,000 after acquiring an additional 94,768 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.