Cardinal Health (NYSE:CAH) Stock Price Target Raised at Royal Bank Of Canada

Cardinal Health (NYSE:CAH) had its price target hoisted by Royal Bank Of Canada from $276.00 to $295.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on CAH. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Morgan Stanley increased their price objective on shares of Cardinal Health from $265.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. TD Cowen lifted their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company upped their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.50.

Cardinal Health Trading Up 1.2%

CAH traded up $3.17 during trading on Friday, reaching $270.99. 1,980,770 shares of the company’s stock were exchanged, compared to its average volume of 1,660,503. Cardinal Health has a one year low of $180.45 and a one year high of $286.29. The firm has a fifty day moving average price of $240.45 and a two-hundred day moving average price of $223.55. The stock has a market capitalization of $62.75 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.32. The company had revenue of $67.51 billion for the quarter, compared to analyst estimates of $66.67 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 earnings per share. Sell-side analysts expect that Cardinal Health will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Insider Activity

In related news, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares in the company, valued at $18,341,790.45. This trade represents a 8.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the sale, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 210,271 shares of company stock valued at $49,626,657. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ibex Wealth Advisors acquired a new stake in shares of Cardinal Health in the 3rd quarter worth about $422,000. Valmark Advisers Inc. lifted its position in Cardinal Health by 19.8% in the 3rd quarter. Valmark Advisers Inc. now owns 1,969 shares of the company’s stock valued at $438,000 after acquiring an additional 326 shares in the last quarter. Allworth Financial LP boosted its stake in Cardinal Health by 13.1% during the 3rd quarter. Allworth Financial LP now owns 5,214 shares of the company’s stock valued at $1,239,000 after purchasing an additional 603 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Cardinal Health by 64.8% during the 3rd quarter. Fisher Asset Management LLC now owns 33,955 shares of the company’s stock valued at $7,555,000 after purchasing an additional 13,345 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Cardinal Health by 18.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 558,898 shares of the company’s stock worth $124,384,000 after purchasing an additional 88,192 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health News Roundup

Here are the key news stories impacting Cardinal Health this week:

• Positive Sentiment: Fiscal Q1 adjusted EPS was $3.26, ahead of analyst expectations, while revenue rose 5% year over year to $67.5 billion and also topped estimates. The company raised its FY2027 adjusted EPS guidance to $12.80–$13.00, above the FactSet estimate of $12.57. Cardinal Health reports first-quarter results and raises outlook
• Positive Sentiment: Management cited specialty growth, strong demand for generics and customer renewals as supports for the raised outlook. Cardinal Health also completed a $500 million share repurchase program during the quarter. Q1 earnings call highlights
• Positive Sentiment: Royal Bank of Canada raised its price target to $295 from $276 and reiterated an “outperform” rating, signaling continued analyst optimism. Royal Bank of Canada recommendations
• Negative Sentiment: Medical distribution faced pressure, including modest commodity and petroleum-related headwinds. The company’s results and raised forecast indicate these pressures were outweighed by strength in pharmaceuticals and specialty. Cardinal Health sees healthy demand despite commodity pressure

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.