Cardinal Health (NYSE:CAH) Price Target Raised to $120.00

Cardinal Health (NYSE:CAH) had its price objective upped by Mizuho from $110.00 to $120.00 in a research note issued to investors on Monday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Argus upped their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Finally, UBS Group lifted their price objective on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

Shares of CAH opened at $115.58 on Monday. The firm has a market cap of $27.97 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $119.13. The business’s 50 day moving average price is $111.86 and its two-hundred day moving average price is $104.23.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. Research analysts predict that Cardinal Health will post 7.69 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.75%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its holdings in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth $27,000. Hara Capital LLC bought a new position in shares of Cardinal Health in the third quarter worth $31,000. Finally, LRI Investments LLC purchased a new position in shares of Cardinal Health in the first quarter valued at $32,000. Institutional investors own 87.17% of the company’s stock.

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.