Cardinal Health (NYSE:CAH) Rating Increased to Buy at TD Cowen

TD Cowen upgraded shares of Cardinal Health (NYSE:CAH) from a hold rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $144.00 price target on the stock, up from their previous price target of $130.00.

CAH has been the subject of several other reports. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Tuesday. UBS Group raised their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Stock Down 0.7 %

Shares of NYSE CAH opened at $121.70 on Wednesday. The company has a market cap of $29.45 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.47 and a beta of 0.63. The firm’s fifty day moving average is $119.77 and its 200 day moving average is $110.84. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $126.23.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 EPS. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s dividend payout ratio is 39.30%.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds have recently bought and sold shares of CAH. Eastern Bank purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC increased its holdings in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the second quarter worth approximately $29,000. Hara Capital LLC purchased a new position in shares of Cardinal Health during the 3rd quarter worth $31,000. Finally, AM Squared Ltd bought a new stake in shares of Cardinal Health during the 3rd quarter valued at $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.