Cardinal Health (NYSE:CAH) Price Target Raised to $125.00

Cardinal Health (NYSE:CAH) had its price target raised by Argus from $115.00 to $125.00 in a research note published on Wednesday morning, Benzinga reports. Argus currently has a buy rating on the stock.

CAH has been the subject of several other research reports. Evercore ISI raised their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an in-line rating in a research report on Thursday, August 15th. Morgan Stanley upped their target price 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. Wells Fargo & Company upped their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an underweight rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Cardinal Health from a buy rating to a strong-buy rating in a research report on Friday, August 16th. Finally, Citigroup reduced their target price on shares of Cardinal Health from $115.00 to $107.00 and set a neutral rating on the stock in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $119.36.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $113.17 on Wednesday. The stock has a market cap of $27.60 billion, a PE ratio of 50.30, a PEG ratio of 1.55 and a beta of 0.60. The business has a fifty day moving average of $103.98 and a two-hundred day moving average of $104.08. Cardinal Health has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (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 analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. Analysts predict that Cardinal Health will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm 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 dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s payout ratio is 89.78%.

Insider Buying and Selling

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the sale, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last ninety days. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the company. Cultivar Capital Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. lifted its holdings in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the second quarter valued at about $29,000. YHB Investment Advisors Inc. bought a new stake in shares of Cardinal Health in the first quarter valued at about $32,000. Finally, LRI Investments LLC bought a new stake in shares of Cardinal Health in the first quarter valued at about $32,000. 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.