Cardinal Health (NYSE:CAH) Price Target Raised to $280.00

by · The Cerbat Gem

Cardinal Health (NYSE:CAH – Free Report) had its price objective boosted by Mizuho from $250.00 to $280.00 in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently commented on the stock. Royal Bank Of Canada initiated coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target on the stock. Wells Fargo & Company increased their price target on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. TD Cowen boosted their price objective on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, UBS Group boosted their price objective on Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.38.

Read Our Latest Stock Analysis on CAH

Cardinal Health Stock Performance

Cardinal Health stock opened at $255.86 on Tuesday. The firm has a market cap of $59.25 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 1.55 and a beta of 0.50. Cardinal Health has a 52-week low of $158.70 and a 52-week high of $259.21. The firm has a 50 day moving average price of $236.17 and a two-hundred day moving average price of $223.55.

Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts predict that Cardinal Health will post 12.55 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, October 1st. Cardinal Health’s payout ratio is presently 28.49%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the sale, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. The trade was a 47.09% 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, CEO Jason M. Hollar sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the transaction, the chief executive officer owned 235,132 shares in the company, valued at $55,430,017.68. This represents a 25.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock valued at $49,626,657 over the last 90 days. Insiders own 0.12% of the company’s stock.

Institutional Trading of Cardinal Health

Large investors have recently made changes to their positions in the company. Downshift Financial LLC raised its stake in Cardinal Health by 3,666.7% during the 3rd quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after buying an additional 110 shares during the period. Maryland Capital Advisors Inc. boosted its holdings in Cardinal Health by 12,600.0% in the third quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock worth $28,000 after acquiring an additional 126 shares in the last quarter. Indiana Trust & Investment Management Co bought a new position in Cardinal Health in the first quarter worth approximately $29,000. Investors Research Corp bought a new position in Cardinal Health in the second quarter worth approximately $29,000. Finally, Allied Private Wealth LLC acquired a new stake in Cardinal Health in the second quarter valued at approximately $30,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health

(Get Free Report)

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.

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