Cardinal Health (NYSE:CAH) Price Target Raised to $286.00

Cardinal Health (NYSE:CAH) had its price objective lifted by JPMorgan Chase & Co. from $260.00 to $286.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on CAH. Citigroup lifted their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Leerink Partners set a $292.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 11th. Morgan Stanley raised their price objective on Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Mizuho set a $290.00 target price on Cardinal Health in a research report on Thursday, November 5th. Finally, Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.44.

Cardinal Health Stock Up 0.2%

NYSE:CAH opened at $277.97 on Tuesday. Cardinal Health has a twelve month low of $180.45 and a twelve month high of $286.29. The business has a 50 day moving average price of $243.50 and a two-hundred day moving average price of $224.91. The company has a market cap of $64.25 billion, a P/E ratio of 35.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.32. The company had revenue of $67.51 billion for the quarter, compared to the consensus estimate of $66.67 billion. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $2.55 earnings per share. As a group, analysts anticipate that Cardinal Health will post 12.96 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, January 4th. Cardinal Health’s dividend payout ratio is 26.65%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Jason Hollar sold 44,529 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the completion of the sale, the chief executive officer owned 190,603 shares in the company, valued at $45,016,616.54. This trade represents a 18.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by company insiders.

Institutional Trading of Cardinal Health

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter worth approximately $6,293,115,000. Wellington Management Group LLP boosted its position in Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares during the period. Bank of America Corp DE bought a new position in Cardinal Health during the second quarter worth $689,066,000. Legal & General Group Plc acquired a new position in shares of Cardinal Health in the second quarter valued at $438,870,000. Finally, Pacer Advisors Inc. increased its holdings in shares of Cardinal Health by 14.7% in the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after purchasing an additional 200,021 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.