Cardinal Health (NYSE:CAH) Price Target Lowered to $94.00 at Wells Fargo & Company

Cardinal Health (NYSE:CAH) had its target price decreased by Wells Fargo & Company from $96.00 to $94.00 in a research report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other research firms also recently commented on CAH. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. StockNews.com lowered shares of Cardinal Health from a strong-buy rating to a buy rating in a report on Wednesday, April 24th. UBS Group raised their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research note on Monday, February 5th. Barclays initiated coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an overweight rating and a $117.00 price target for the company. Finally, Argus upgraded Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $102.93.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $102.93 on Monday. The firm has a 50 day simple moving average of $109.48 and a 200 day simple moving average of $104.93. Cardinal Health has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The firm has a market cap of $25.03 billion, a P/E ratio of 40.52, a P/E/G ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period last year, the company earned $1.32 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Cardinal Health will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%. Cardinal Health’s dividend payout ratio is 78.74%.

Institutional Trading of Cardinal Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Cardinal Health by 379.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock worth $11,873,000 after purchasing an additional 83,975 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Cardinal Health by 0.8% in the first quarter. Principal Financial Group Inc. now owns 302,449 shares of the company’s stock valued at $33,844,000 after buying an additional 2,403 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Cardinal Health by 40.2% during the first quarter. Benjamin Edwards Inc. now owns 499 shares of the company’s stock worth $56,000 after buying an additional 143 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Cardinal Health by 3.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,945 shares of the company’s stock worth $553,000 after acquiring an additional 167 shares in the last quarter. Finally, Summit Global Investments lifted its stake in Cardinal Health by 1,075.4% in the first quarter. Summit Global Investments now owns 115,544 shares of the company’s stock valued at $12,929,000 after acquiring an additional 105,714 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

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.