Cardinal Health (NYSE:CAH) Price Target Raised to $115.00

Cardinal Health (NYSE:CAH) had its target price raised by Evercore ISI from $105.00 to $115.00 in a report issued on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

CAH has been the topic of a number of other research reports. Argus dropped their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $129.00 to $130.00 and gave the company an outperform rating in a research report on Tuesday, July 9th. StockNews.com cut Cardinal Health from a strong-buy rating to a buy rating in a report on Thursday, August 8th. Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a neutral rating for the company in a report on Friday, July 19th. Finally, Wells Fargo & Company decreased their price objective on Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $117.45.

Cardinal Health Trading Up 1.8 %

Shares of CAH stock opened at $109.85 on Thursday. Cardinal Health has a 12-month low of $85.11 and a 12-month high of $116.04. The stock has a market capitalization of $26.76 billion, a P/E ratio of 48.82, a P/E/G ratio of 1.14 and a beta of 0.61. The firm’s 50 day moving average is $99.38 and its 200 day moving average is $103.17.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of the stock. Clearstead Trust LLC bought a new stake in Cardinal Health in the 4th quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health during the second quarter valued at about $27,000. Raleigh Capital Management Inc. increased its holdings in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health in the second quarter worth about $29,000. Finally, YHB Investment Advisors Inc. purchased a new position in Cardinal Health during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.