Brokerages Set Cardinal Health, Inc. (NYSE:CAH) PT at $119.36

Cardinal Health, Inc. (NYSE:CAH) has received an average rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $119.36.

Several research firms have weighed in on CAH. Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Citigroup reduced their target price 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. increased their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Finally, UBS Group raised their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th.

Cardinal Health Price Performance

Shares of CAH stock opened at $111.84 on Thursday. Cardinal Health has a fifty-two week low of $85.82 and a fifty-two week high of $116.05. The stock’s 50-day moving average is $105.61 and its two-hundred day moving average is $104.11. The firm has a market cap of $27.24 billion, a P/E ratio of 49.71, a PEG ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share. As a group, research analysts expect that Cardinal Health will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at $26,574,187.17. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last three months. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in shares of Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after buying an additional 370,181 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after purchasing an additional 14,030 shares during the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $258,499,000. Finally, ProShare Advisors LLC lifted its holdings in Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after purchasing an additional 85,247 shares during the last quarter. 87.17% of the stock is currently owned by 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.