Brokerages Set Cardinal Health, Inc. (NYSE:CAH) Price Target at $119.36

Shares of Cardinal Health, Inc. (NYSE:CAH) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $119.36.

A number of equities analysts have recently commented on CAH shares. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. UBS Group upped their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Argus increased their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Citigroup reduced their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th.

Cardinal Health Trading Up 0.0 %

Shares of CAH opened at $111.87 on Thursday. Cardinal Health has a twelve month low of $85.82 and a twelve month high of $116.05. The firm has a market capitalization of $27.25 billion, a P/E ratio of 49.72, a price-to-earnings-growth ratio of 1.55 and a beta of 0.60. The stock’s fifty day simple moving average is $105.98 and its 200 day simple moving average is $103.99.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. Sell-side analysts predict that Cardinal Health will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAH. Clifford Capital Partners LLC raised its holdings in shares of Cardinal Health by 21.3% during the second quarter. Clifford Capital Partners LLC now owns 140,027 shares of the company’s stock valued at $13,767,000 after acquiring an additional 24,602 shares during the period. Verity & Verity LLC purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $239,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its holdings in shares of Cardinal Health by 4.7% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 12,690 shares of the company’s stock worth $1,248,000 after purchasing an additional 570 shares during the period. Heritage Wealth Management Inc. purchased a new position in Cardinal Health during the second quarter valued at approximately $283,000. Finally, Sanctuary Advisors LLC acquired a new position in Cardinal Health in the 2nd quarter valued at approximately $6,906,000. 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.