JPMorgan Chase & Co. Raises Cardinal Health (NYSE:CAH) Price Target to $123.00

Cardinal Health (NYSE:CAH) had its price target increased by JPMorgan Chase & Co. from $111.00 to $123.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an underweight rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a hold rating in a research report on Friday, August 16th. Robert W. Baird lifted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an outperform rating in a research report on Thursday, August 15th. StockNews.com raised shares of Cardinal Health from a buy rating to a strong-buy rating in a research note on Friday, August 16th. Finally, UBS Group raised their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $118.45.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $109.36 on Wednesday. The stock has a market capitalization of $26.64 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 1.14 and a beta of 0.61. Cardinal Health has a 1-year low of $85.44 and a 1-year high of $116.04. The company has a 50 day moving average price of $100.21 and a 200 day moving average price of $103.33.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. On average, sell-side analysts expect that Cardinal Health will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.85%. Cardinal Health’s payout ratio is presently 89.78%.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the company’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 sale, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Cardinal Health

A number of institutional investors and hedge funds have recently modified their holdings of CAH. International Assets Investment Management LLC acquired a new position in Cardinal Health during the 4th quarter worth $37,393,000. Lindbrook Capital LLC boosted its stake in Cardinal Health by 23.7% during the 4th quarter. Lindbrook Capital LLC now owns 945 shares of the company’s stock valued at $95,000 after purchasing an additional 181 shares during the period. Signaturefd LLC boosted its stake in Cardinal Health by 12.8% during the 4th quarter. Signaturefd LLC now owns 2,532 shares of the company’s stock valued at $255,000 after purchasing an additional 288 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Cardinal Health by 3.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,794 shares of the company’s stock worth $2,298,000 after buying an additional 672 shares during the period. Finally, CWM LLC increased its position in Cardinal Health by 121.6% in the 4th quarter. CWM LLC now owns 12,164 shares of the company’s stock worth $1,226,000 after buying an additional 6,675 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.