Cardinal Health (NYSE:CAH) Price Target Raised to $115.00

Cardinal Health (NYSE:CAH) had its price target lifted by Evercore ISI from $105.00 to $115.00 in a report issued on Thursday, Benzinga reports. They currently have an in-line rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Argus dropped their target price on shares of Cardinal Health from $120.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Wells Fargo & Company reduced their price objective on Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a research report on Monday, April 29th. Citigroup dropped their target price on Cardinal Health from $115.00 to $107.00 and set a neutral rating on the stock in a research report on Friday, July 19th. StockNews.com cut shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Thursday, August 8th. Finally, Robert W. Baird boosted their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the company an outperform rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $117.45.

Cardinal Health Trading Up 1.8 %

CAH stock opened at $109.85 on Thursday. The stock has a market capitalization of $26.76 billion, a PE ratio of 48.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The stock’s 50 day simple moving average is $99.38 and its 200 day simple moving average is $103.21. Cardinal Health has a 12-month low of $85.11 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. On average, research analysts predict that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.84%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health during the 2nd quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter worth approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Cardinal Health during the 1st quarter valued at approximately $32,000. 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.