Cardinal Health (NYSE:CAH) Earns Outperform Rating from Analysts at Mizuho

Mizuho initiated coverage on shares of Cardinal Health (NYSE:CAH) in a report issued on Wednesday. The brokerage issued an outperform rating and a $139.00 price target on the stock.

CAH has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. UBS Group lifted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird boosted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Evercore ISI boosted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.58.

Cardinal Health Trading Up 1.6 %

CAH opened at $125.24 on Wednesday. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23. The firm has a market capitalization of $30.31 billion, a PE ratio of 24.37, a P/E/G ratio of 1.53 and a beta of 0.61. The firm has a 50 day moving average of $115.43 and a two-hundred day moving average of $107.16.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. As a group, analysts predict that Cardinal Health will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.61%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $27,000. Frazier Financial Advisors LLC boosted its position in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $29,000. Finally, Hara Capital LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds 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.