Cardinal Health (NYSE:CAH) Given New $128.00 Price Target at Robert W. Baird

Cardinal Health (NYSE:CAH) had its target price cut by Robert W. Baird from $134.00 to $128.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company decreased their price target on Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a report on Monday, April 29th. Argus raised shares of Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. StockNews.com upgraded shares of Cardinal Health from a buy rating to a strong-buy rating in a report on Thursday. Finally, UBS Group increased their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of Moderate Buy and a consensus price target of $105.79.

Cardinal Health Trading Down 4.0 %

NYSE CAH traded down $4.07 during mid-day trading on Friday, hitting $98.91. The company’s stock had a trading volume of 3,446,183 shares, compared to its average volume of 2,028,678. The company’s 50 day simple moving average is $109.10 and its 200 day simple moving average is $105.01. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04. The firm has a market capitalization of $24.06 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 1.03 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 EPS. As a group, research analysts forecast that Cardinal Health will post 7.34 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 88.89%.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in shares of Cardinal Health in the fourth quarter worth $25,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Cardinal Health in the 1st quarter worth about $32,000. Cornerstone Planning Group LLC purchased a new position in Cardinal Health during the 3rd quarter valued at about $26,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $30,000. 87.17% of the stock is currently 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.