Cardinal Health (NYSE:CAH) Price Target Raised to $127.00

Cardinal Health (NYSE:CAH) had its target price lifted by Morgan Stanley from $119.00 to $127.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Mizuho boosted their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group increased their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Price Performance

CAH stock opened at $115.58 on Monday. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $119.13. The company has a market cap of $27.97 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The company has a fifty day moving average price of $111.86 and a 200 day moving average price of $104.23.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. As a group, analysts anticipate that Cardinal Health will post 7.69 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.75%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Insider Transactions at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 over the last ninety days. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Cardinal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paragon Capital Management Inc. increased its holdings in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after buying an additional 99 shares during the last quarter. Midland Wealth Advisors LLC increased its stake in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other 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.