Citigroup Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price objective hoisted by Citigroup from $120.00 to $129.00 in a research note released on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on CAH. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Price Performance

Shares of CAH opened at $121.70 on Friday. The company has a market capitalization of $29.45 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. Cardinal Health has a one year low of $93.17 and a one year high of $126.23. The company’s fifty day moving average price is $119.77 and its 200 day moving average price is $110.84.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 EPS. Analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the period. Alpha Cubed Investments LLC bought a new stake in shares of Cardinal Health during the 3rd quarter valued at about $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Cardinal Health during the 3rd quarter valued at approximately $1,691,000. Finally, National Wealth Management Group LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at approximately $903,000. 87.17% of the stock is 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.