Cardinal Health, Inc. (NYSE:CAH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One research 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. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $124.58.

Several research analysts have recently issued reports on CAH shares. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday. They issued an “outperform” rating and a $139.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Evercore ISI raised their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th.

Cardinal Health Stock Down 0.1 %

Cardinal Health stock opened at $122.76 on Tuesday. The stock has a market cap of $29.71 billion, a PE ratio of 23.88, a P/E/G ratio of 1.57 and a beta of 0.61. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23. The business’s 50-day moving average price is $116.29 and its two-hundred day moving average price is $107.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. As a group, analysts expect that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eastern Bank acquired a new stake in Cardinal Health during the 3rd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health during the second quarter worth approximately $27,000. Frazier Financial Advisors LLC increased its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health in the second quarter valued at approximately $29,000. Finally, Hara Capital LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.