Cardinal Health, Inc. (NYSE:CAH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $163.20.

A number of equities analysts have commented on CAH shares. Bank of America boosted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. UBS Group restated a “buy” rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Citigroup restated a “neutral” rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, Leerink Partners reduced their price target on shares of Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th.

Hedge Funds Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC lifted its holdings in Cardinal Health by 75.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 75 shares during the period. Greykasell Wealth Strategies Inc. acquired a new position in Cardinal Health in the first quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 71 shares during the period. NewSquare Capital LLC lifted its holdings in Cardinal Health by 100.0% in the second quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock valued at $36,000 after buying an additional 107 shares during the period. Finally, AlphaCore Capital LLC acquired a new position in Cardinal Health in the second quarter valued at approximately $41,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 0.5%

NYSE CAH opened at $149.49 on Friday. The stock has a market cap of $35.70 billion, a P/E ratio of 23.18, a PEG ratio of 1.32 and a beta of 0.67. The company’s 50-day simple moving average is $159.63 and its 200 day simple moving average is $144.61. Cardinal Health has a twelve month low of $106.54 and a twelve month high of $168.44.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Research analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.4%. Cardinal Health’s dividend payout ratio is currently 31.63%.

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.