Cardinal Health (NYSE:CAH) Hits New 1-Year High – What’s Next?

Cardinal Health, Inc. (NYSE:CAH) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $127.89 and last traded at $127.81, with a volume of 1588946 shares trading hands. The stock had previously closed at $126.27.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAH. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Trading Up 0.5 %

The firm has a market capitalization of $31.31 billion, a PE ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63. The firm has a 50 day simple moving average of $121.15 and a 200 day simple moving average of $112.70.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period last year, the firm posted $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Institutional Investors Weigh In On Cardinal Health

A number of large investors have recently added to or reduced their stakes in the stock. Eastern Bank purchased a new position in shares of Cardinal Health in the 3rd quarter worth $25,000. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Hara Capital LLC purchased a new position in Cardinal Health in the third quarter worth about $31,000. AM Squared Ltd bought a new stake in shares of Cardinal Health during the 3rd quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at about $47,000. Institutional investors own 87.17% of the company’s stock.

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.