Robert W. Baird Raises Cardinal Health (NYSE:CAH) Price Target to $130.00

Cardinal Health (NYSE:CAH) had its price target boosted by Robert W. Baird from $129.00 to $130.00 in a report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently commented on the stock. StockNews.com cut shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Tuesday, July 2nd. Evercore ISI lifted their price target on Cardinal Health from $110.00 to $115.00 and gave the company an in-line rating in a research report on Friday, May 3rd. Wells Fargo & Company dropped their price objective on Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a report on Monday, April 29th. Finally, Argus reduced their target price on Cardinal Health from $120.00 to $115.00 and set a buy rating for the company in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of Moderate Buy and an average price target of $109.00.

Cardinal Health Stock Down 1.2 %

CAH opened at $94.46 on Tuesday. The company’s 50-day moving average price is $98.61 and its two-hundred day moving average price is $104.12. Cardinal Health has a twelve month low of $85.11 and a twelve month high of $116.04. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 1.07 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same period in the prior year, the company earned $1.74 earnings per share. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.14%. Cardinal Health’s dividend payout ratio is presently 89.78%.

Institutional Trading of Cardinal Health

A number of hedge funds have recently made changes to their positions in CAH. Clearstead Trust LLC bought a new stake in Cardinal Health during the fourth quarter worth about $25,000. Raleigh Capital Management Inc. raised its holdings in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Cardinal Health in the 1st quarter worth approximately $32,000. LRI Investments LLC purchased a new stake in Cardinal Health in the first quarter worth approximately $32,000. Finally, BKM Wealth Management LLC purchased a new position in shares of Cardinal Health during the fourth quarter worth approximately $30,000. 87.17% of the stock is owned by institutional investors.

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.