Brokerages Set Cardinal Health, Inc. (NYSE:CAH) Price Target at $139.36

Cardinal Health, Inc. (NYSE:CAH) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $139.36.

Several equities analysts have recently weighed in on the company. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Morgan Stanley boosted their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of CAH. Assetmark Inc. increased its holdings in shares of Cardinal Health by 25.8% in the 3rd quarter. Assetmark Inc. now owns 37,561 shares of the company’s stock valued at $4,151,000 after acquiring an additional 7,692 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Cardinal Health by 7.5% in the 3rd quarter. Atria Investments Inc now owns 12,810 shares of the company’s stock valued at $1,416,000 after acquiring an additional 899 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Cardinal Health by 20.2% in the 3rd quarter. Sigma Planning Corp now owns 11,431 shares of the company’s stock valued at $1,263,000 after acquiring an additional 1,924 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Cardinal Health by 50.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 974 shares of the company’s stock valued at $108,000 after acquiring an additional 325 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Cardinal Health by 24.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,710 shares of the company’s stock valued at $1,847,000 after acquiring an additional 3,247 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE CAH opened at $132.09 on Thursday. The firm has a market capitalization of $31.91 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $132.84. The business’s 50-day simple moving average is $126.94 and its 200-day simple moving average is $119.78.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities research analysts expect that Cardinal Health will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.53%. Cardinal Health’s dividend payout ratio is presently 37.69%.

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.