Cardinal Health (NYSE:CAH) Hits New 12-Month High – Here’s What Happened

Cardinal Health, Inc. (NYSE:CAH)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $125.42 and last traded at $125.05, with a volume of 1123096 shares changing hands. The stock had previously closed at $123.51.

Analysts Set New Price Targets

Several equities analysts recently commented on CAH shares. Mizuho upped their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. UBS Group upped their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

The firm has a market cap of $30.33 billion, a P/E ratio of 24.31, a PEG ratio of 1.54 and a beta of 0.60. The stock has a 50 day moving average of $112.58 and a 200 day moving average of $104.81.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. On average, research analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given 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 payout ratio is 39.30%.

Insider Buying and Selling at Cardinal Health

In other news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the sale, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 over the last three months. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors have recently bought and sold shares of CAH. Eastern Bank bought a new position in Cardinal Health in the third quarter worth about $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health in the second quarter worth about $27,000. Frazier Financial Advisors LLC raised its stake 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 buying an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the second quarter worth about $29,000. Finally, Hara Capital LLC bought a new position in shares of Cardinal Health during the third quarter valued at approximately $31,000. 87.17% of the stock is owned by institutional investors.

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.