Brokerages Set Cardinal Health, Inc. (NYSE:CAH) Price Target at $103.07

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

A number of research analysts have issued reports on the stock. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. UBS Group upped their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, SVB Leerink assumed coverage on Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Cardinal Health during the 4th quarter valued at $258,499,000. Ameriprise Financial Inc. lifted its holdings in Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after acquiring an additional 1,862,291 shares during the period. California Public Employees Retirement System boosted its position in Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after purchasing an additional 823,520 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $464,800,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Cardinal Health by 1,941.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock valued at $46,183,000 after purchasing an additional 435,722 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $103.21 on Monday. The business’s fifty day moving average is $109.51 and its 200 day moving average is $104.85. The firm has a market cap of $25.10 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04.

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, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter last year, the company posted $1.32 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Cardinal Health will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.94%. Cardinal Health’s dividend payout ratio is 78.74%.

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.