Cardinal Health (NYSE:CAH) Price Target Raised to $230.00

Cardinal Health (NYSE:CAH) had its price target hoisted by Leerink Partners from $211.00 to $230.00 in a research report sent to investors on Monday,MarketScreener reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also commented on CAH. Mizuho upped their price target on Cardinal Health from $170.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Robert W. Baird set a $232.00 price target on shares of Cardinal Health in a report on Friday, October 31st. Citigroup upped their price objective on shares of Cardinal Health from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Evercore ISI raised their target price on shares of Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $206.57.

Cardinal Health Stock Up 0.3%

NYSE CAH opened at $207.55 on Monday. The company has a market cap of $49.31 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The firm’s 50-day simple moving average is $168.98 and its two-hundred day simple moving average is $160.38. Cardinal Health has a 52 week low of $114.60 and a 52 week high of $209.57.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company had revenue of $64.01 billion during the quarter, compared to analyst estimates of $59.41 billion. During the same period last year, the business earned $1.88 earnings per share. Cardinal Health’s revenue was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, equities research analysts anticipate that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, January 2nd. Cardinal Health’s dividend payout ratio is 30.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Cardinal Health by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after purchasing an additional 247,667 shares during the period. Geode Capital Management LLC grew its position in shares of Cardinal Health by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after buying an additional 205,539 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after buying an additional 1,193,983 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Cardinal Health by 3.2% in the third quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock valued at $563,922,000 after acquiring an additional 111,582 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

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.