Cardinal Health (NYSE:CAH) Given New $129.00 Price Target at Citigroup

Cardinal Health (NYSE:CAH) had its price target hoisted by Citigroup from $120.00 to $129.00 in a research note released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on the company. Morgan Stanley lifted their price target on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $144.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Stock Down 0.7 %

Shares of Cardinal Health stock opened at $121.70 on Friday. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $126.23. The stock’s fifty day moving average is $119.77 and its two-hundred day moving average is $110.84. The company has a market capitalization of $29.45 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share 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 the consensus estimate of $50.90 billion. During the same quarter last year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank acquired a new stake in shares of Cardinal Health during the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC boosted its holdings in Cardinal Health by 69.8% during the third 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. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter valued at about $29,000. Hara Capital LLC bought a new stake in shares of Cardinal Health in the third quarter valued at about $31,000. Finally, AM Squared Ltd bought a new stake in shares of Cardinal Health in the third quarter valued at about $33,000. 87.17% of the stock is owned by institutional investors.

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.