Cardinal Health (NYSE:CAH – Free Report) had its target price increased by Wells Fargo & Company from $245.00 to $277.00 in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have an overweight rating on the stock.
A number of other brokerages also recently weighed in on CAH. Morgan Stanley raised their price objective on Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. TD Cowen raised their price target on Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Citigroup upped their price objective on shares of Cardinal Health from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Mizuho lifted their price objective on shares of Cardinal Health from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $265.93.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts forecast that Cardinal Health will post 12.52 EPS for the current fiscal year.
Cardinal Health Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.
Institutional Trading of Cardinal Health
A number of large investors have recently made changes to their positions in CAH. LWM Advisors Inc. increased its position in Cardinal Health by 4.4% during the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the period. Kathmere Capital Management LLC increased its holdings in shares of Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock valued at $896,000 after purchasing an additional 49 shares during the period. Hillsdale Investment Management Inc. increased its holdings in shares of Cardinal Health by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after purchasing an additional 50 shares during the period. V Square Quantitative Management LLC lifted its holdings in Cardinal Health by 2.6% in the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock valued at $423,000 after acquiring an additional 50 shares during the period. Finally, Generali Asset Management SPA SGR lifted its holdings in Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after acquiring an additional 51 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.
About Cardinal Health
Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.
The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.
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