Cardinal Health, Inc. (NYSE:CAH) Stock Has Consensus Price Target of $266.56 According to Analysts

Cardinal Health, Inc. (NYSE:CAH) has earned an average rating of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $266.56.

CAH has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Bank of America lifted their target price on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a report on Tuesday, August 11th. Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th.

Cardinal Health Price Performance

NYSE CAH opened at $239.61 on Friday. Cardinal Health has a 1-year low of $151.87 and a 1-year high of $258.30. The firm has a market capitalization of $55.49 billion, a P/E ratio of 33.14, a P/E/G ratio of 1.43 and a beta of 0.50. The business’s 50-day simple moving average is $233.72 and its 200-day simple moving average is $221.39.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.49. The company had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts expect that Cardinal Health will post 12.55 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 28.49%.

Insiders Place Their Bets

In related news, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica Mayer sold 29,436 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at $7,812,220.44. This represents a 47.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by insiders.

Institutional Trading of Cardinal Health

A number of hedge funds have recently modified their holdings of CAH. BlackRock Inc. bought a new stake in Cardinal Health in the second quarter valued at $6,293,115,000. Wellington Management Group LLP increased its holdings in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after buying an additional 10,584,119 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $689,066,000. Legal & General Group Plc bought a new position in Cardinal Health in the 2nd quarter valued at $438,870,000. Finally, Bank of New York Mellon Corp bought a new stake in Cardinal Health during the 2nd quarter worth about $308,640,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.