Cardinal Health (NYSE:CAH) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Cardinal Health (NYSE:CAH) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

Other analysts also recently issued research reports about the stock. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Citigroup lowered their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Morgan Stanley increased their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Robert W. Baird upped their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Trading Up 0.4 %

NYSE CAH opened at $112.41 on Thursday. Cardinal Health has a 12-month low of $90.19 and a 12-month high of $116.05. The firm’s fifty day simple moving average is $111.00 and its two-hundred day simple moving average is $103.96. The firm has a market capitalization of $27.38 billion, a P/E ratio of 49.96, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. As a group, sell-side analysts predict that Cardinal Health will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 89.78%.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of the company’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 transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of CAH. Paragon Capital Management Inc. boosted its stake in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC raised its stake in Cardinal Health by 5.0% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after acquiring an additional 100 shares in the last quarter. Midland Wealth Advisors LLC lifted its holdings in Cardinal Health by 4.2% in the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC lifted its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after acquiring an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

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.