Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Mizuho Analyst Says

Cardinal Health (NYSE:CAH) had its target price boosted by Mizuho from $142.00 to $150.00 in a report released on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

CAH has been the subject of several other reports. Wells Fargo & Company lifted their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Morgan Stanley increased their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Argus set a $148.00 price target on shares of Cardinal Health in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $137.83 on Monday. The firm has a 50-day moving average of $128.60 and a 200-day moving average of $121.03. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $138.62. The stock has a market cap of $33.29 billion, a PE ratio of 25.71, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts predict that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.47%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of CAH. Norges Bank bought a new position in Cardinal Health in the fourth quarter valued at about $246,748,000. Marshall Wace LLP increased its stake in shares of Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after buying an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Cardinal Health in the 4th quarter valued at approximately $141,963,000. Junto Capital Management LP acquired a new stake in Cardinal Health during the 4th quarter worth approximately $92,811,000. Finally, Woodline Partners LP bought a new stake in Cardinal Health during the 4th quarter worth approximately $87,144,000. Institutional investors and hedge funds 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.