UBS Group Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price target increased by UBS Group from $134.00 to $139.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on CAH. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho upped their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

Shares of CAH stock opened at $115.58 on Monday. The stock has a market capitalization of $27.97 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.57 and a beta of 0.60. The company’s fifty day simple moving average is $111.86 and its two-hundred day simple moving average is $104.23. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $119.13.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health will post 7.69 EPS for the current year.

Cardinal Health Cuts Dividend

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

Insider Transactions at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction on Monday, August 19th. The shares were 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 approximately $4,015,184.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP boosted its holdings in shares of Cardinal Health by 23.0% during the third quarter. Gladius Capital Management LP now owns 10,013 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,873 shares during the period. Frazier Financial Advisors LLC raised its position 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 purchasing an additional 104 shares during the last quarter. Mount Lucas Management LP lifted its holdings in Cardinal Health by 2.9% in the 3rd quarter. Mount Lucas Management LP now owns 4,530 shares of the company’s stock worth $501,000 after buying an additional 129 shares during the period. Natixis Advisors LLC grew its position in shares of Cardinal Health by 22.6% in the 3rd quarter. Natixis Advisors LLC now owns 461,449 shares of the company’s stock worth $50,999,000 after buying an additional 85,029 shares during the last quarter. Finally, KCM Investment Advisors LLC grew its position in shares of Cardinal Health by 4.9% in the 3rd quarter. KCM Investment Advisors LLC now owns 15,570 shares of the company’s stock worth $1,721,000 after buying an additional 721 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other 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.