Cardinal Health (NYSE:CAH) Price Target Raised to $133.00

Cardinal Health (NYSE:CAH) had its price objective hoisted by Barclays from $117.00 to $133.00 in a research note released on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Finally, Evercore ISI raised their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

Cardinal Health stock opened at $115.58 on Monday. Cardinal Health has a one year low of $93.17 and a one year high of $119.13. The company’s fifty day moving average price is $111.86 and its two-hundred day moving average price is $104.23. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.57 and a beta of 0.60.

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

Cardinal Health Cuts Dividend

The company also recently disclosed 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 yield of 1.75%. Cardinal Health’s dividend payout ratio is 39.30%.

Insider Activity

In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAH. Pacer Advisors Inc. boosted its position in Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after buying an additional 370,181 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Cardinal Health by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after acquiring an additional 14,030 shares during the last quarter. ProShare Advisors LLC increased its position in Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after purchasing an additional 111,137 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

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.