UBS Group Raises Cardinal Health (NYSE:CAH) Price Target to $134.00

Cardinal Health (NYSE:CAH) had its price objective raised by UBS Group from $125.00 to $134.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

CAH has been the subject of several other research reports. Citigroup cut their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Morgan Stanley increased their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Argus increased their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Cardinal Health Stock Down 1.1 %

Shares of Cardinal Health stock opened at $110.89 on Tuesday. Cardinal Health has a 12-month low of $90.19 and a 12-month high of $116.05. The stock has a market capitalization of $27.01 billion, a P/E ratio of 49.28, a PEG ratio of 1.57 and a beta of 0.60. The stock has a 50 day moving average price of $111.64 and a two-hundred day moving average price of $104.06.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 EPS. Sell-side analysts anticipate that Cardinal Health will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.506 dividend. This represents a $2.02 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

Insider Buying and Selling at Cardinal Health

In other news, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Paragon Capital Management Inc. lifted its stake in shares of Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares during the period. Edmonds Duncan Registered Investment Advisors LLC lifted its stake in Cardinal Health by 5.0% in the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after buying an additional 100 shares during the period. Midland Wealth Advisors LLC boosted its holdings in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC grew its position in shares of Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares during the last quarter. 87.17% of the stock is owned by 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.