Cardinal Health (NYSE:CAH) Price Target Raised to $125.00

Cardinal Health (NYSE:CAH) had its price objective hoisted by Argus from $115.00 to $125.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on CAH. Morgan Stanley boosted their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an overweight rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $115.00 to $119.00 and gave the company a hold rating in a research report on Friday, August 16th. Evercore ISI upped their target price on Cardinal Health from $105.00 to $115.00 and gave the company an in-line rating in a research report on Thursday, August 15th. UBS Group upped their target price on Cardinal Health from $120.00 to $125.00 and gave the company a buy rating in a research report on Thursday, August 15th. Finally, Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a neutral rating on the stock in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $119.36.

Cardinal Health Stock Up 0.7 %

Shares of NYSE CAH opened at $113.17 on Wednesday. The business’s 50 day moving average price is $103.98 and its two-hundred day moving average price is $104.08. The company has a market cap of $27.60 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. Cardinal Health has a twelve month low of $85.82 and a twelve month high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, research analysts anticipate that Cardinal Health will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.79%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the company’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 sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 over the last three months. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Cardinal Health by 86.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after acquiring an additional 32,250 shares during the last quarter. Pinebridge Investments L.P. lifted its stake in shares of Cardinal Health by 237.7% in the 4th quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after acquiring an additional 120,740 shares during the last quarter. Tobam lifted its stake in shares of Cardinal Health by 773.4% in the 1st quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after acquiring an additional 43,488 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after acquiring an additional 24,222 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares during the last quarter. 87.17% of the stock is currently owned by 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.