Cardinal Health (NYSE:CAH) Price Target Raised to $142.00

Cardinal Health (NYSE:CAH) had its price objective upped by JPMorgan Chase & Co. from $132.00 to $142.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.64.

Cardinal Health Stock Down 0.3 %

Shares of NYSE CAH opened at $128.89 on Friday. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $129.68. The company has a market cap of $31.19 billion, a P/E ratio of 25.08, a P/E/G ratio of 1.57 and a beta of 0.63. The business’s 50 day moving average is $121.36 and its two-hundred day moving average is $113.16.

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

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently bought and sold shares of CAH. State Street Corp grew its holdings in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after acquiring an additional 42,082 shares during the last quarter. Pacer Advisors Inc. increased its position in Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after acquiring an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after acquiring an additional 33,388 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its position in shares of Cardinal Health by 10.1% during the second quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock worth $129,439,000 after purchasing an additional 121,107 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.