Analysts’ Recent Ratings Changes for Cardinal Health (CAH)

A number of firms have modified their ratings and price targets on shares of Cardinal Health (NYSE: CAH) recently:

• 7/22/2024 – Cardinal Health was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 7/19/2024 – Cardinal Health had its price target lowered by analysts at Citigroup Inc. from $115.00 to $107.00. They now have a “neutral” rating on the stock.
• 7/9/2024 – Cardinal Health had its price target raised by analysts at Robert W. Baird from $129.00 to $130.00. They now have an “outperform” rating on the stock.
• 7/9/2024 – Cardinal Health had its price target lowered by analysts at Evercore ISI from $115.00 to $105.00. They now have an “in-line” rating on the stock.
• 7/2/2024 – Cardinal Health was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 6/24/2024 – Cardinal Health was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Cardinal Health Price Performance

Shares of CAH stock traded up $1.09 during mid-day trading on Tuesday, hitting $99.27. The company had a trading volume of 621,828 shares, compared to its average volume of 2,139,706. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04. The stock’s 50 day moving average price is $98.01 and its 200-day moving average price is $103.54. The company has a market capitalization of $24.18 billion, a P/E ratio of 44.12, a P/E/G ratio of 1.08 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is 89.78%.

Institutional Investors Weigh In On Cardinal Health

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. raised its stake in Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after purchasing an additional 164 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after purchasing an additional 32,250 shares in the last quarter. Pinebridge Investments L.P. raised its stake in Cardinal Health by 237.7% during the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock valued at $17,290,000 after purchasing an additional 120,740 shares in the last quarter. Tobam raised its stake in Cardinal Health by 773.4% during the first quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after purchasing an additional 43,488 shares in the last quarter. Finally, Nomura Holdings Inc. raised its stake in Cardinal Health by 12.3% during the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after purchasing an additional 24,222 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.