Cardinal Health (NYSE:CAH – Free Report) had its price target increased by JPMorgan Chase & Co. from $101.00 to $112.00 in a research report sent to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
A number of other analysts also recently weighed in on the company. TheStreet upgraded Cardinal Health from a c rating to a b- rating in a research note on Tuesday, November 14th. Morgan Stanley lifted their price target on Cardinal Health from $92.00 to $100.00 and gave the company an overweight rating in a research note on Wednesday, August 16th. StockNews.com started coverage on Cardinal Health in a research note on Thursday, October 5th. They issued a strong-buy rating on the stock. Mizuho lifted their price target on Cardinal Health from $94.00 to $96.00 and gave the company a neutral rating in a research note on Wednesday, August 16th. Finally, TD Cowen lifted their price target on Cardinal Health from $88.00 to $90.00 and gave the company a market perform rating in a research note on Wednesday, August 16th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $96.83.
Cardinal Health Trading Up 1.8 %
Cardinal Health (NYSE:CAH – Get Free Report) last announced its earnings results on Friday, November 3rd. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.33. Cardinal Health had a negative return on equity of 60.27% and a net margin of 0.07%. The company had revenue of $54.76 billion for the quarter, compared to the consensus estimate of $54.85 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts predict that Cardinal Health will post 6.9 earnings per share for the current fiscal year.
Cardinal Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a $0.5006 dividend. The ex-dividend date is Friday, December 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.90%. Cardinal Health’s dividend payout ratio (DPR) is 327.87%.
Insider Transactions at Cardinal Health
In other news, CEO Deborah Weitzman sold 6,712 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $89.81, for a total value of $602,804.72. Following the completion of the transaction, the chief executive officer now directly owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.
Hedge Funds Weigh In On Cardinal Health
Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA increased its stake in Cardinal Health by 110.9% in the second quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock valued at $154,000 after purchasing an additional 854 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Cardinal Health by 4.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock valued at $14,159,000 after acquiring an additional 7,431 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Cardinal Health during the first quarter valued at about $692,000. LSV Asset Management grew its position in Cardinal Health by 0.3% during the first quarter. LSV Asset Management now owns 2,456,552 shares of the company’s stock valued at $185,470,000 after acquiring an additional 7,000 shares during the period. Finally, Strategy Asset Managers LLC purchased a new stake in Cardinal Health during the first quarter valued at about $665,000. 86.01% of the stock is currently owned by institutional investors and hedge funds.
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.
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