Cardinal Health (NYSE:CAH) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Cardinal Health (NYSE:CAH) from a buy rating to a strong-buy rating in a research report report published on Sunday,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on CAH. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Mizuho boosted their price objective on Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada initiated coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. Wells Fargo & Company upped their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, Robert W. Baird increased their target price on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Performance

NYSE CAH opened at $220.12 on Friday. Cardinal Health has a one year low of $149.60 and a one year high of $258.30. The company has a 50-day simple moving average of $233.05 and a 200-day simple moving average of $219.83. The firm has a market capitalization of $50.97 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 1.32 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share 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 business had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities analysts forecast that Cardinal Health will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s payout ratio is 28.49%.

Insider Buying and Selling at Cardinal Health

In related news, CEO Stephen Mason sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the transaction, the chief executive officer directly owned 18,061 shares of the company’s stock, valued at $4,269,620.40. This represents a 65.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica 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 sale, the insider directly owned 33,076 shares in the company, valued at $7,812,220.44. The trade was a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently modified their holdings of CAH. Palladiem LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $28,000. Indiana Trust & Investment Management Co purchased a new position in shares of Cardinal Health in the first quarter worth approximately $29,000. Investors Research Corp purchased a new position in shares of Cardinal Health in the second quarter worth approximately $29,000. Allied Private Wealth LLC acquired a new stake in shares of Cardinal Health during the second quarter valued at approximately $30,000. Finally, NBH Bank purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.