Cardinal Health (NYSE:CAH) Price Target Raised to $120.00 at Mizuho

Cardinal Health (NYSE:CAH) had its target price increased by Mizuho from $110.00 to $120.00 in a report released on Monday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

CAH has been the topic of a number of other research reports. Robert W. Baird upped their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Morgan Stanley upped their price objective on shares of 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, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Trading Up 2.3 %

Shares of NYSE:CAH opened at $118.22 on Monday. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $119.58. The company has a market cap of $28.61 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60. The company’s 50 day moving average is $112.07 and its 200 day moving average is $104.41.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the company posted $1.73 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that Cardinal Health will post 7.84 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated 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 $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated 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 owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last 90 days. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Cardinal Health by 379.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock worth $11,873,000 after purchasing an additional 83,975 shares during the period. Private Advisor Group LLC lifted its holdings in Cardinal Health by 13.4% in the first quarter. Private Advisor Group LLC now owns 12,077 shares of the company’s stock valued at $1,350,000 after acquiring an additional 1,428 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Cardinal Health by 34.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,580 shares of the company’s stock worth $9,576,000 after acquiring an additional 21,801 shares during the period. Graypoint LLC purchased a new position in Cardinal Health in the first quarter worth approximately $265,000. Finally, Daiwa Securities Group Inc. increased its stake in Cardinal Health by 37.6% during the first quarter. Daiwa Securities Group Inc. now owns 37,753 shares of the company’s stock worth $4,224,000 after acquiring an additional 10,317 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.