Cardinal Health (NYSE:CAH) Upgraded by Royal Bank Of Canada to “Moderate Buy” Rating

Royal Bank Of Canada upgraded shares of Cardinal Health (NYSE:CAH) from a sector perform rating to a moderate buy rating in a research report sent to investors on Wednesday, MarketBeat.com reports.

CAH has been the topic of several other research reports. Barclays lifted their price target on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Citigroup raised their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research report on Tuesday, August 11th. Finally, Evercore reissued an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research note on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.56.

Cardinal Health Price Performance

CAH opened at $234.73 on Wednesday. The business has a 50 day simple moving average of $231.76 and a two-hundred day simple moving average of $217.68. The firm has a market capitalization of $54.59 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.26 and a beta of 0.49. Cardinal Health has a one year low of $145.87 and a one year high of $258.30.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter last year, the business posted $2.08 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, sell-side analysts expect that Cardinal Health will post 12.54 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAH. Integrated Wealth Concepts LLC lifted its position in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp grew its holdings in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Cardinal Health in the second quarter worth about $1,935,000. Cerity Partners LLC increased its stake in shares of Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after purchasing an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in shares of Cardinal Health by 34.4% during the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after purchasing an additional 2,646 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.