Cardinal Health (NYSE:CAH) PT Raised to $64.00

Cardinal Health (NYSE:CAHGet Rating) had its price objective increased by Credit Suisse Group from $56.00 to $64.00 in a research note published on Friday morning, Marketbeat.com reports. Credit Suisse Group currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on CAH. Evercore ISI upgraded Cardinal Health from an in-line rating to an outperform rating and boosted their target price for the stock from $55.00 to $68.00 in a research note on Wednesday, May 18th. Barclays cut Cardinal Health from an overweight rating to an equal weight rating and decreased their target price for the stock from $70.00 to $64.00 in a research note on Thursday, May 26th. Robert W. Baird boosted their target price on Cardinal Health from $57.00 to $73.00 and gave the stock a neutral rating in a research note on Friday. Morgan Stanley decreased their target price on Cardinal Health from $74.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, July 14th. Finally, TheStreet lowered Cardinal Health from a c+ rating to a d+ rating in a research report on Thursday, May 5th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of Moderate Buy and an average target price of $67.71.

Cardinal Health Stock Performance

Shares of CAH opened at $69.97 on Friday. The stock has a 50-day simple moving average of $55.88 and a 200-day simple moving average of $56.24. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.57 and a current ratio of 1.08. The stock has a market capitalization of $19.06 billion, a PE ratio of 10.51, a PEG ratio of 1.52 and a beta of 0.86. Cardinal Health has a 1 year low of $45.85 and a 1 year high of $71.45.

Cardinal Health (NYSE:CAHGet Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.12). The company had revenue of $47.10 billion during the quarter, compared to analysts’ expectations of $44.82 billion. Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. On average, analysts predict that Cardinal Health will post 5.37 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be issued a $0.4957 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, September 30th. Cardinal Health’s payout ratio is currently 29.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Cardinal Health by 5.0% during the first quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock worth $1,310,275,000 after purchasing an additional 1,109,613 shares in the last quarter. State Street Corp boosted its position in Cardinal Health by 2.1% during the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock worth $1,246,751,000 after purchasing an additional 457,777 shares in the last quarter. Invesco Ltd. boosted its position in Cardinal Health by 9.0% during the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock worth $350,748,000 after purchasing an additional 511,826 shares in the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,314,555 shares of the company’s stock worth $273,086,000 after purchasing an additional 17,736 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Cardinal Health by 2.8% during the first quarter. ProShare Advisors LLC now owns 3,098,173 shares of the company’s stock worth $175,667,000 after purchasing an additional 84,919 shares in the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

Cardinal Health Company Profile

(Get Rating)

Cardinal Health, Inc operates as an integrated 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.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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