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 note released on Wednesday, Benzinga reports. Argus currently has a buy rating on the stock.

CAH has been the subject of several other reports. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an underweight rating in a report on Thursday, August 15th. Evercore ISI raised their price target 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. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a neutral rating in a research note on Wednesday, August 21st. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the company an outperform rating in a research note on Thursday, August 15th. Finally, Morgan Stanley lifted 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $119.36.

Cardinal Health Price Performance

Cardinal Health stock opened at $113.17 on Wednesday. Cardinal Health has a one year low of $85.82 and a one year high of $116.05. The company’s fifty day moving average price is $103.98 and its two-hundred day moving average price is $104.11. The company has a market capitalization of $27.60 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The business 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 firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $1.55 EPS. As a group, sell-side analysts anticipate that Cardinal Health will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last quarter. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors have recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC increased its holdings in shares of Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after buying an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased 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 purchasing an additional 100 shares in the last quarter. Midland Wealth Advisors LLC raised its position in Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares in the last quarter. 87.17% of the stock is 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.