Evercore ISI Boosts Cardinal Health (NYSE:CAH) Price Target to $115.00

Cardinal Health (NYSE:CAH) had its target price increased by Evercore ISI from $110.00 to $115.00 in a research note released on Friday morning, Benzinga reports. They currently have an in-line rating on the stock.

CAH has been the subject of a number of other reports. Robert W. Baird dropped their target price on Cardinal Health from $134.00 to $128.00 and set an outperform rating for the company in a report on Friday. UBS Group boosted their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a research note on Monday, February 5th. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a research report on Monday, February 26th. Argus upgraded shares of Cardinal Health from a hold rating to a buy rating in a research report on Friday, February 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of Moderate Buy and an average target price of $105.79.

Cardinal Health Trading Down 4.0 %

Shares of NYSE:CAH opened at $98.91 on Friday. The business’s 50 day moving average is $109.10 and its 200-day moving average is $105.09. The firm has a market capitalization of $24.06 billion, a PE ratio of 43.96, a PEG ratio of 0.99 and a beta of 0.71. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Cardinal Health will post 7.34 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. Cardinal Health’s payout ratio is 88.89%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health in the 3rd quarter worth $26,000. Raleigh Capital Management Inc. grew its stake in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. BKM Wealth Management LLC bought a new stake in Cardinal Health in the fourth quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. acquired a new position in Cardinal Health in the first quarter valued at about $32,000. 87.17% 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.