Cardinal Health (NYSE:CAH) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Cardinal Health (NYSE:CAH) from a buy rating to a strong-buy rating in a research report released on Friday morning.

Other research analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of Cardinal Health from $115.00 to $107.00 and set a neutral rating for the company in a research note on Friday, July 19th. Evercore ISI increased their target price on Cardinal Health from $105.00 to $115.00 and gave the company an in-line rating in a report on Thursday. Morgan Stanley lifted their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an overweight rating in a report on Thursday. Wells Fargo & Company increased their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an underweight rating in a report on Thursday. Finally, Argus decreased their target price on Cardinal Health from $120.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $117.45.

Cardinal Health Stock Up 1.8 %

Shares of NYSE CAH opened at $109.85 on Friday. Cardinal Health has a 52-week low of $85.11 and a 52-week high of $116.04. The business’s 50 day moving average is $99.38 and its two-hundred day moving average is $103.17. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 48.82, a PEG ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. Analysts anticipate that Cardinal Health will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Clearstead Trust LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. grew its position in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Cardinal Health in the 1st quarter valued at $32,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the 1st quarter worth $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

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.