Cardinal Health (NYSE:CAH) Price Target Raised to $115.00 at Evercore ISI

Cardinal Health (NYSE:CAH) had its target price boosted by Evercore ISI from $110.00 to $115.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other analysts have also commented on CAH. Leerink Partnrs reiterated an outperform rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com upgraded shares of Cardinal Health from a buy rating to a strong-buy rating in a research note on Thursday. Argus upgraded Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. Wells Fargo & Company cut their price objective on Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a report on Monday, April 29th. Finally, UBS Group increased their target price on Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have given 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.com, the company presently has an average rating of Moderate Buy and an average target price of $105.79.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded down $4.07 during midday trading on Friday, hitting $98.91. The company had a trading volume of 3,446,183 shares, compared to its average volume of 2,028,678. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04. The company has a 50 day moving average of $109.10 and a 200 day moving average of $105.01. The stock has a market capitalization of $24.06 billion, a P/E ratio of 43.96, a P/E/G ratio of 1.03 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same quarter last year, the company earned $1.74 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Cardinal Health will post 7.34 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAH. Aaron Wealth Advisors LLC raised its holdings in Cardinal Health by 1.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock valued at $844,000 after acquiring an additional 97 shares during the period. Schechter Investment Advisors LLC lifted its holdings in Cardinal Health by 4.1% in the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after purchasing an additional 98 shares in the last quarter. J. W. Coons Advisors LLC lifted its holdings in Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after purchasing an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC grew its holdings in Cardinal Health by 5.0% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after buying an additional 100 shares in the last quarter. Finally, Cypress Capital Group raised its position in shares of Cardinal Health by 0.7% during the third quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock valued at $1,487,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.