Deutsche Bank Aktiengesellschaft Boosts Cardinal Health (NYSE:CAH) Price Target to $119.00

Cardinal Health (NYSE:CAH) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $115.00 to $119.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. Morgan Stanley upped their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an overweight rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an underweight rating in a research report on Thursday. Evercore ISI lifted their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an in-line rating in a report on Thursday. Argus dropped their target price on Cardinal Health from $120.00 to $115.00 and set a buy rating for the company in a report on Wednesday, May 15th. Finally, StockNews.com downgraded Cardinal Health from a strong-buy rating to a buy rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $117.45.

Cardinal Health Stock Performance

Cardinal Health stock opened at $109.85 on Friday. Cardinal Health has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The stock has a market cap of $26.76 billion, a P/E ratio of 48.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The firm’s fifty day moving average price is $99.38 and its 200-day moving average price is $103.17.

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

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.506 dividend. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.84%. Cardinal Health’s dividend payout ratio is currently 89.78%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health in the fourth quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. grew its stake in shares of Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health during the 2nd quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new position in Cardinal Health during the first quarter valued at $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

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.