Cardinal Health, Inc. (NYSE:CAH) Receives $119.36 Average Price Target from Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $119.36.

A number of brokerages have recently commented on CAH. Robert W. Baird lifted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Evercore ISI boosted their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Citigroup decreased their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Finally, UBS Group raised their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $112.55 on Monday. The business’s fifty day moving average price is $110.50 and its two-hundred day moving average price is $103.95. The stock has a market cap of $27.41 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health has a one year low of $90.19 and a one year high of $116.05.

Cardinal Health (NYSE:CAH) last posted 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. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter last year, the company earned $1.55 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Cardinal Health will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.506 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 89.78%.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 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 buying an additional 268 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth about $244,000. EP Wealth Advisors LLC boosted its holdings in Cardinal Health by 70.3% in the fourth quarter. EP Wealth Advisors LLC now owns 5,065 shares of the company’s stock valued at $511,000 after purchasing an additional 2,091 shares during the last quarter. Wellington Management Group LLP grew its stake in Cardinal Health by 107.8% during the 4th quarter. Wellington Management Group LLP now owns 24,348 shares of the company’s stock valued at $2,454,000 after purchasing an additional 12,631 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Cardinal Health by 39.3% during the 4th quarter. Fisher Asset Management LLC now owns 4,193 shares of the company’s stock worth $423,000 after purchasing an additional 1,183 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.