Cardinal Health (NYSE:CAH) Price Target Raised to $139.00

Cardinal Health (NYSE:CAH) had its price target boosted by UBS Group from $134.00 to $139.00 in a research report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Morgan Stanley boosted their target price on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Mizuho raised their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Up 2.1 %

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

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 EPS. Research analysts expect 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 issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.75%. Cardinal Health’s dividend payout ratio is 39.30%.

Insider Transactions at Cardinal Health

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

Institutional Trading of Cardinal Health

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after acquiring an additional 370,181 shares during the period. Acadian Asset Management LLC grew its holdings in 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 purchasing an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD increased its position 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 worth $305,584,000 after buying an additional 14,030 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after buying an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after buying 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.