Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its target price upped by Deutsche Bank Aktiengesellschaft from $119.00 to $124.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. Barclays boosted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Morgan Stanley increased their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday. Robert W. Baird lifted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Trading Up 2.3 %

Shares of Cardinal Health stock opened at $118.22 on Monday. The company has a market capitalization of $28.61 billion, a PE ratio of 23.00, a PEG ratio of 1.39 and a beta of 0.60. The stock’s fifty day simple moving average is $112.07 and its 200 day simple moving average is $104.41. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $119.58.

Cardinal Health (NYSE:CAH) last posted its earnings results 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 negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the business earned $1.73 EPS. Cardinal Health’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts predict that Cardinal Health will post 7.84 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.71%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’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 completion of the sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds have recently modified their holdings of CAH. Eastern Bank acquired a new position in shares of Cardinal Health in the third quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health in the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC increased its position in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health during the second quarter worth $29,000. Finally, Hara Capital LLC acquired a new position in Cardinal Health in the third quarter valued at $31,000. Institutional investors and hedge funds 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.