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

Cardinal Health (NYSE:CAH) had its target price boosted by Barclays from $117.00 to $133.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Argus upped their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Citigroup cut their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upped their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Up 2.3 %

Shares of Cardinal Health stock opened at $118.22 on Monday. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $119.58. The stock has a market cap of $28.61 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60. The business has a fifty day simple moving average of $112.07 and a 200-day simple moving average of $104.41.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Analysts expect that Cardinal Health will post 7.84 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued 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 1.71%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Insider Activity

In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Cardinal Health by 101.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after purchasing an additional 161,656 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock valued at $35,160,000 after acquiring an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC bought a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Cardinal Health by 1.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after purchasing an additional 6,752 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Cardinal Health by 38.7% during the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock valued at $2,148,000 after purchasing an additional 5,352 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.