Cardinal Health (NYSE:CAH) Price Target Increased to $123.00 by Analysts at JPMorgan Chase & Co.

Cardinal Health (NYSE:CAH) had its price target lifted by JPMorgan Chase & Co. from $111.00 to $123.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on CAH. Argus dropped their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, May 15th. StockNews.com raised Cardinal Health from a buy rating to a strong-buy rating in a research report on Friday, August 16th. Morgan Stanley upped their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an overweight rating in a research report on Thursday, August 15th. Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an in-line rating in a research note on Thursday, August 15th. Finally, Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an outperform rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $118.45.

Cardinal Health Stock Performance

Shares of CAH stock opened at $109.44 on Wednesday. The stock has a fifty day moving average price of $100.39 and a 200 day moving average price of $103.37. The stock has a market cap of $26.66 billion, a PE ratio of 48.64, a P/E/G ratio of 1.14 and a beta of 0.61. Cardinal Health has a 1 year low of $85.44 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 EPS. As a group, equities research analysts predict that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Institutional investors have recently bought and sold shares of the business. Clearstead Trust LLC purchased a new stake in shares of Cardinal Health in the fourth quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. boosted its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the second quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $32,000. 87.17% of the stock is currently 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.