Cardinal Health (NYSE:CAH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cardinal Health (NYSE:CAH) from a buy rating to a strong-buy rating in a research report report published on Monday.

Other analysts have also issued reports about the stock. Robert W. Baird reduced their price target on shares of Cardinal Health from $134.00 to $128.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Evercore ISI upped their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an in-line rating in a research note on Friday, May 3rd. UBS Group increased their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a research note on Monday, February 5th. Leerink Partnrs reissued an outperform rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, Wells Fargo & Company cut their target price on shares of Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cardinal Health has an average rating of Moderate Buy and a consensus price target of $107.57.

Cardinal Health Stock Down 0.2 %

Cardinal Health stock opened at $96.11 on Monday. The firm has a 50-day moving average price of $105.03 and a two-hundred day moving average price of $105.47. The firm has a market capitalization of $23.41 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 1.09 and a beta of 0.71. Cardinal Health has a 52-week low of $80.90 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 EPS. Research analysts expect that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 88.89%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC acquired a new position in Cardinal Health in the 4th quarter valued at approximately $209,000. Mather Group LLC. raised its holdings in shares of Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after purchasing an additional 164 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Cardinal Health by 50.5% during the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after purchasing an additional 61,933 shares in the last quarter. Vest Financial LLC raised its holdings in shares of Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after purchasing an additional 38,769 shares in the last quarter. Finally, Gradient Investments LLC raised its holdings in shares of Cardinal Health by 55,483.3% during the 1st quarter. Gradient Investments LLC now owns 150,075 shares of the company’s stock valued at $16,793,000 after purchasing an additional 149,805 shares in the last quarter. Institutional investors and hedge funds 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.