Brokerages Set Cardinal Health, Inc. (NYSE:CAH) PT at $245.20

Cardinal Health, Inc. (NYSE:CAH) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $245.6667.

Several research firms have recently commented on CAH. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Leerink Partners lifted their price target on shares of Cardinal Health from $268.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday. Finally, UBS Group set a $260.00 price target on shares of Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th.

Institutional Investors Weigh In On Cardinal Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aventura Private Wealth LLC purchased a new position in Cardinal Health in the 4th quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cardinal Health in the fourth quarter worth about $26,000. Bank of Jackson Hole Trust purchased a new position in shares of Cardinal Health in the fourth quarter worth about $27,000. Palladiem LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $28,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH stock opened at $223.11 on Thursday. The business’s 50-day moving average is $215.28 and its two-hundred day moving average is $188.84. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 1.46 and a beta of 0.65. Cardinal Health has a fifty-two week low of $120.72 and a fifty-two week high of $233.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The business’s quarterly revenue was up 18.8% on a year-over-year basis. Equities analysts predict that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is 29.35%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.