Cardinal Health (NYSE:CAH) Price Target Raised to $136.00

Cardinal Health (NYSE:CAH) had its target price increased by Wells Fargo & Company from $135.00 to $136.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

CAH has been the topic of a number of other research reports. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Barclays raised their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $136.87.

Cardinal Health Stock Down 0.3 %

Shares of CAH opened at $127.07 on Tuesday. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.46 and a beta of 0.63. The stock’s 50-day moving average price is $122.35 and its 200-day moving average price is $114.92. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $132.84.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities analysts anticipate that Cardinal Health will post 7.92 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. Cardinal Health’s payout ratio is 37.69%.

Hedge Funds Weigh In On Cardinal Health

Institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank purchased a new stake in Cardinal Health in the third quarter valued at $25,000. Frazier Financial Advisors LLC raised its position in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Promus Capital LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $30,000. Hara Capital LLC purchased a new stake in Cardinal Health in the third quarter valued at $31,000. Finally, AM Squared Ltd purchased a new stake in Cardinal Health in the third quarter valued at $33,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.