Cardinal Health (NYSE:CAH) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Cardinal Health (NYSE:CAH) from an underweight rating to an equal weight rating in a research report report published on Friday, Marketbeat reports. They currently have $127.00 price target on the stock, up from their prior price target of $101.00.

Other analysts have also recently issued reports about the company. Argus boosted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley lifted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.75.

Cardinal Health Stock Up 0.5 %

Shares of CAH stock opened at $118.10 on Friday. The stock has a market cap of $28.58 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $126.23. The business has a 50-day simple moving average of $117.12 and a 200-day simple moving average of $108.53.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is presently 39.30%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Copley Financial Group Inc. purchased a new position in shares of Cardinal Health during the 3rd quarter worth $507,000. Oddo BHF Asset Management Sas acquired a new position in Cardinal Health in the third quarter valued at about $497,000. Franklin Resources Inc. boosted its stake in Cardinal Health by 6.6% during the third quarter. Franklin Resources Inc. now owns 151,185 shares of the company’s stock worth $16,918,000 after buying an additional 9,385 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cardinal Health during the third quarter valued at about $846,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Cardinal Health by 27.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 15,950 shares of the company’s stock valued at $1,763,000 after acquiring an additional 3,449 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.