Cardinal Health, Inc. (NYSE:CAH) Receives $157.43 Consensus Price Target from Brokerages

Shares of Cardinal Health, Inc. (NYSE:CAH) have been given an average recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $157.43.

Several brokerages recently weighed in on CAH. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Morgan Stanley set a $181.00 price target on shares of Cardinal Health and gave the company an “overweight” rating in a research report on Friday, June 13th. Citigroup reiterated a “neutral” rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. UBS Group increased their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th.

Cardinal Health Stock Performance

Cardinal Health stock opened at $163.95 on Friday. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $166.32. The firm’s 50-day simple moving average is $150.11 and its 200 day simple moving average is $134.48. The stock has a market cap of $39.13 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health’s revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. As a group, analysts predict that Cardinal Health will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 31.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in Cardinal Health by 34.8% during the 4th quarter. Allworth Financial LP now owns 3,771 shares of the company’s stock valued at $486,000 after purchasing an additional 973 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at approximately $93,000. Principal Financial Group Inc. lifted its stake in Cardinal Health by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 299,861 shares of the company’s stock worth $35,465,000 after acquiring an additional 5,939 shares during the period. Truist Financial Corp boosted its holdings in Cardinal Health by 29.5% in the fourth quarter. Truist Financial Corp now owns 108,486 shares of the company’s stock valued at $12,831,000 after acquiring an additional 24,732 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Cardinal Health by 86.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,812 shares of the company’s stock valued at $214,000 after purchasing an additional 838 shares during the period. 87.17% of the stock is currently owned by institutional investors.

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.