Cardinal Health, Inc. (NYSE:CAH) Receives $146.43 Consensus Target Price from Brokerages

Shares of Cardinal Health, Inc. (NYSE:CAH) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $146.43.

Several research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. UBS Group lifted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Mizuho lifted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Bank of America lifted their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Robert W. Baird lifted their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd.

Institutional Trading of Cardinal Health

Hedge funds have recently modified their holdings of the business. Cyrus J. Lawrence LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cardinal Health during the 1st quarter valued at $26,000. Jones Financial Companies Lllp boosted its holdings in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at $30,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at $32,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $153.93 on Tuesday. The firm has a market cap of $36.74 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $156.44. The firm has a 50 day moving average price of $141.26 and a 200-day moving average price of $130.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the business posted $2.08 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts predict that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Tuesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 31.83%.

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.