Cardinal Health (NYSE:CAH) Sets New 12-Month High – Here’s Why

Cardinal Health, Inc. (NYSE:CAH) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $127.89 and last traded at $127.81, with a volume of 1588946 shares changing hands. The stock had previously closed at $126.27.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAH shares. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group lifted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Price Performance

The company has a market cap of $30.93 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.54 and a beta of 0.63. The stock has a fifty day moving average price of $120.92 and a two-hundred day moving average price of $112.47.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the firm posted $1.73 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a $0.5056 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.58%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Hedge Funds Weigh In On Cardinal Health

Several large investors have recently modified their holdings of the business. Paragon Capital Management Inc. lifted its stake in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares in the last quarter. Huntington National Bank lifted its position in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Cardinal Health by 0.9% in the second quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after acquiring an additional 103 shares during the period. Frazier Financial Advisors LLC grew its position in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Cardinal Health by 4.9% during the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock valued at $249,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.