Investment Analysts’ Recent Ratings Changes for Cardinal Health (CAH)

A number of research firms have changed their ratings and price targets for Cardinal Health (NYSE: CAH):

• 11/4/2024 – Cardinal Health had its price target raised by analysts at Morgan Stanley from $119.00 to $127.00. They now have an “overweight” rating on the stock.
• 11/4/2024 – Cardinal Health had its price target raised by analysts at Barclays PLC from $117.00 to $133.00. They now have an “overweight” rating on the stock.
• 11/4/2024 – Cardinal Health had its price target raised by analysts at Mizuho from $110.00 to $120.00. They now have a “neutral” rating on the stock.
• 11/4/2024 – Cardinal Health had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $119.00 to $124.00. They now have a “hold” rating on the stock.
• 11/4/2024 – Cardinal Health had its price target raised by analysts at UBS Group AG from $134.00 to $139.00. They now have a “buy” rating on the stock.
• 11/3/2024 – Cardinal Health was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 10/26/2024 – Cardinal Health was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/22/2024 – Cardinal Health had its price target raised by analysts at UBS Group AG from $125.00 to $134.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Cardinal Health was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/9/2024 – Cardinal Health was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

Cardinal Health Stock Up 1.2 %

NYSE CAH traded up $1.45 on Wednesday, hitting $124.96. The stock had a trading volume of 1,156,454 shares, compared to its average volume of 2,090,857. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $125.42. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.54 and a beta of 0.60. The company’s 50-day moving average is $112.58 and its two-hundred day moving average is $104.81.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.62%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Insider Activity

In other news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. This trade represents a 0.00 % decrease in their position. 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 90 days. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Eastern Bank bought a new stake in shares of Cardinal Health during the 3rd quarter worth $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC boosted its holdings in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter valued at $29,000. Finally, Hara Capital LLC bought a new stake in Cardinal Health in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.