Cardinal Health (NYSE:CAH) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Cardinal Health (NYSE:CAH – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a strong-buy rating on the stock.

Several other analysts have also issued reports on CAH. Morgan Stanley upped their target price on shares of Cardinal Health from $86.00 to $90.00 and gave the stock an overweight rating in a research note on Friday, February 3rd. Robert W. Baird raised shares of Cardinal Health from a neutral rating to an outperform rating and boosted their price target for the stock from $87.00 to $94.00 in a report on Friday, February 3rd. Credit Suisse Group boosted their price target on shares of Cardinal Health from $89.00 to $92.00 and gave the stock a neutral rating in a report on Friday, February 3rd. Finally, UBS Group boosted their price target on shares of Cardinal Health from $78.00 to $91.00 and gave the stock a buy rating in a report on Tuesday, January 31st. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $80.64.

Cardinal Health Price Performance

NYSE CAH opened at $69.62 on Thursday. Cardinal Health has a 1 year low of $49.70 and a 1 year high of $81.57. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.11 and a beta of 0.76. The company has a fifty day moving average price of $76.05 and a 200-day moving average price of $74.87.

Cardinal Health (NYSE:CAH – Get Rating) last posted its earnings results on Thursday, February 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. Cardinal Health had a negative net margin of 0.66% and a negative return on equity of 101.28%. The firm had revenue of $51.47 billion during the quarter, compared to analyst estimates of $50.03 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health will post 5.42 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Monday, April 3rd will be issued a dividend of $0.4957 per share. This represents a $1.98 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, March 31st. Cardinal Health’s dividend payout ratio (DPR) is presently 36.33%.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors have recently added to or reduced their stakes in CAH. Delta Asset Management LLC TN purchased a new stake in Cardinal Health during the fourth quarter valued at about $25,000. SJS Investment Consulting Inc. lifted its holdings in Cardinal Health by 888.6% during the fourth quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock valued at $27,000 after purchasing an additional 311 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Cardinal Health during the third quarter valued at about $28,000. Retirement Group LLC lifted its holdings in Cardinal Health by 1,539.3% during the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after purchasing an additional 431 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $36,000. 88.93% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

(Get Rating)

Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.