Wells Fargo & Company Cuts Cardinal Health (NYSE:CAH) Price Target to $94.00

Cardinal Health (NYSE:CAH) had its price objective decreased by Wells Fargo & Company from $96.00 to $94.00 in a research note published on Monday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other equities analysts have also commented on CAH. UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research report on Monday, February 5th. Barclays initiated coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an overweight rating and a $117.00 target price for the company. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They issued an outperform rating and a $125.00 price objective for the company. Leerink Partnrs reaffirmed an outperform rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, StockNews.com downgraded shares of Cardinal Health from a strong-buy rating to a buy rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $102.93.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $102.17 on Monday. Cardinal Health has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The company has a market cap of $24.85 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 1.04 and a beta of 0.68. The business’s 50 day moving average price is $109.43 and its 200-day moving average price is $105.00.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. Sell-side analysts predict that Cardinal Health will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.96%. Cardinal Health’s payout ratio is currently 78.74%.

Institutional Trading of Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC acquired a new stake in Cardinal Health during the third quarter valued at $26,000. Raleigh Capital Management Inc. increased its holdings in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth about $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter worth about $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.