Cardinal Health (NYSE:CAH) Price Target Raised to $124.00

Cardinal Health (NYSE:CAH) had its price target boosted by Deutsche Bank Aktiengesellschaft from $119.00 to $124.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued research reports about the stock. Mizuho lifted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday. Evercore ISI upped their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Barclays lifted their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup reduced their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Robert W. Baird lifted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Up 2.1 %

Shares of CAH opened at $115.58 on Monday. The business has a 50-day simple moving average of $111.86 and a two-hundred day simple moving average of $104.23. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $119.13. The stock 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.

Cardinal Health (NYSE:CAH) last released its earnings results 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 company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period in the prior year, the firm posted $1.73 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Cardinal Health will post 7.69 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given 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 (DPR) is presently 39.30%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction that occurred on 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 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. In the last 90 days, insiders sold 113,963 shares of company stock worth $12,379,980. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in CAH. Eastern Bank bought a new stake in Cardinal Health during the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Cultivar Capital Inc. bought a new position in Cardinal Health in the second quarter worth approximately $27,000. Hara Capital LLC purchased a new position in Cardinal Health during the 3rd quarter worth $31,000. Finally, LRI Investments LLC purchased a new stake in shares of Cardinal Health in the 1st quarter worth $32,000. 87.17% of the stock is currently owned by institutional investors.

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.