Cardinal Health (NYSE:CAH) Upgraded at TD Cowen

TD Cowen upgraded shares of Cardinal Health (NYSE:CAH) from a hold rating to a buy rating in a report issued on Wednesday morning, MarketBeat reports. The firm currently has $144.00 target price on the stock, up from their prior target price of $130.00.

CAH has been the subject of a number of other reports. Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Down 0.7 %

Shares of NYSE:CAH opened at $121.70 on Wednesday. The firm has a market cap of $29.45 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23. The business has a fifty day simple moving average of $119.77 and a 200 day simple moving average of $110.84.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, equities research analysts expect that Cardinal Health will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CAH. Geode Capital Management LLC increased its stake in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Alpha Cubed Investments LLC purchased a new stake in Cardinal Health in the third quarter worth approximately $371,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Cardinal Health in the third quarter worth approximately $1,691,000. Finally, National Wealth Management Group LLC bought a new position in Cardinal Health during the third quarter valued at approximately $903,000. Institutional investors own 87.17% of the company’s stock.

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.