Cardinal Health, Inc. (NYSE:CAH) Receives $127.50 Consensus Price Target from Brokerages

Cardinal Health, Inc. (NYSE:CAH) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $127.50.

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. UBS Group raised their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Barclays increased their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Cardinal Health Stock Down 1.0 %

Cardinal Health stock opened at $117.92 on Friday. The firm has a fifty day simple moving average of $118.16 and a two-hundred day simple moving average of $109.88. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $126.23. The company has a market capitalization of $28.54 billion, a PE ratio of 22.94, a P/E/G ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the company posted $1.73 EPS. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eastern Bank purchased a new stake in shares of Cardinal Health in the 3rd quarter worth about $25,000. Frazier Financial Advisors LLC grew its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the second quarter valued at approximately $29,000. Hara Capital LLC purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $31,000. Finally, AM Squared Ltd bought a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $33,000. Hedge funds and other 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.