Robert W. Baird Boosts Cardinal Health (NYSE:CAH) Price Target to $130.00

Cardinal Health (NYSE:CAH) had its price objective raised by Robert W. Baird from $129.00 to $130.00 in a report published on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

CAH has been the topic of several other research reports. Argus dropped their price target on Cardinal Health from $120.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Wells Fargo & Company cut their price target on shares of Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a report on Monday, April 29th. StockNews.com cut shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Tuesday, July 2nd. Finally, Evercore ISI increased their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an in-line rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $109.00.

Cardinal Health Stock Down 1.2 %

Shares of Cardinal Health stock opened at $94.46 on Tuesday. The company has a 50 day moving average price of $98.61 and a 200 day moving average price of $104.12. The firm has a market capitalization of $23.01 billion, a P/E ratio of 41.98, a PEG ratio of 1.07 and a beta of 0.61. Cardinal Health has a 52 week low of $85.11 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.74 earnings per share. As a group, research analysts anticipate that Cardinal Health will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 89.78%.

Institutional Trading of Cardinal Health

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Cardinal Health during the 4th quarter valued at approximately $258,499,000. California Public Employees Retirement System grew its position in shares of Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after purchasing an additional 823,520 shares during the period. Acadian Asset Management LLC increased its stake in shares of Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Cardinal Health during the 1st quarter worth about $56,454,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after buying an additional 477,682 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.