Cardinal Health, Inc. (NYSE:CAH) Receives $245.20 Consensus PT from Analysts

Cardinal Health, Inc. (NYSE:CAH) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $245.20.

CAH has been the topic of a number of research reports. Barclays boosted their price objective on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen upped their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Evercore raised their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Mizuho boosted their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a report on Friday, February 6th.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. raised its holdings in Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the period. Aventura Private Wealth LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $26,000. Bank of Jackson Hole Trust acquired a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $27,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.8%

Shares of NYSE:CAH opened at $228.85 on Thursday. The company has a 50 day moving average of $214.08 and a 200-day moving average of $187.22. The firm has a market cap of $53.85 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.48 and a beta of 0.64. Cardinal Health has a twelve month low of $120.72 and a twelve month high of $230.81.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business earned $1.93 earnings per share. Equities research analysts forecast that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

About Cardinal Health

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.