Cardinal Health (NYSE:CAH) Price Target Raised to $150.00

Cardinal Health (NYSE:CAH) had its target price boosted by Mizuho from $142.00 to $150.00 in a report published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on CAH. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a report on Monday, January 6th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

Cardinal Health Price Performance

Shares of CAH opened at $138.82 on Monday. The business has a 50-day moving average of $128.98 and a 200-day moving average of $121.33. The company has a market capitalization of $33.53 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $139.15.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, sell-side analysts anticipate that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.46%. Cardinal Health’s payout ratio is 37.69%.

Hedge Funds Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Cardinal Health in the 4th quarter worth approximately $246,748,000. Marshall Wace LLP boosted its position in Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Cardinal Health in the 4th quarter valued at $141,963,000. Junto Capital Management LP purchased a new stake in shares of Cardinal Health during the 4th quarter valued at $92,811,000. Finally, Woodline Partners LP bought a new stake in shares of Cardinal Health during the 4th quarter worth $87,144,000. 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.