Cardinal Health (NYSE:CAH) Price Target Raised to $136.00

Cardinal Health (NYSE:CAH) had its target price upped by Morgan Stanley from $127.00 to $136.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on CAH. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $101.00 to $127.00 in a report on Friday, December 13th. UBS Group raised their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.50.

Cardinal Health Trading Up 0.9 %

NYSE:CAH opened at $117.00 on Tuesday. The firm’s 50 day moving average is $117.37 and its 200 day moving average is $108.89. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $126.23. The stock has a market capitalization of $28.32 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm 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 business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. Research analysts predict that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Hedge Funds Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after acquiring an additional 42,082 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cardinal Health by 2.3% during the third 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 during the last quarter. Alpha Cubed Investments LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth about $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Cardinal Health during the 3rd quarter valued at about $1,691,000. Finally, National Wealth Management Group LLC purchased a new position in shares of Cardinal Health during the 3rd quarter valued at about $903,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.