Cardinal Health (NYSE:CAH) Hits New 52-Week High – Time to Buy?

Shares of Cardinal Health, Inc. (NYSE:CAH) hit a new 52-week high during mid-day trading on Friday. The company traded as high as $259.84 and last traded at $255.54, with a volume of 96,761 shares changing hands. The stock had previously closed at $251.09.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CAH shares. Citigroup raised their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Evercore reiterated an “outperform” rating and issued a $270.00 price objective on shares of Cardinal Health in a report on Wednesday, August 12th. TD Cowen raised their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Leerink Partners set a $292.00 target price on shares of Cardinal Health in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.38.

Cardinal Health Trading Up 1.2%

The stock’s fifty day moving average is $237.31 and its two-hundred day moving average is $222.05. The company has a market capitalization of $58.84 billion, a PE ratio of 34.99, a P/E/G ratio of 1.47 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The business had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 12.55 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a dividend of $0.5158 per share. The ex-dividend date was Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. Cardinal Health’s payout ratio is currently 28.49%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the transaction, the chief executive officer owned 235,132 shares of the company’s stock, valued at approximately $55,430,017.68. This trade represents a 25.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of CAH. First Nebraska Trust Co bought a new stake in Cardinal Health in the 3rd quarter worth approximately $18,218,000. Next Level Wealth Planning LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at $44,000. Signature Equity Partners LLC lifted its holdings in shares of Cardinal Health by 3.8% during the 3rd quarter. Signature Equity Partners LLC now owns 1,335 shares of the company’s stock valued at $297,000 after buying an additional 49 shares during the period. TSG Advice Partners LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth $3,279,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Cardinal Health in the 3rd quarter worth $15,093,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.