Wells Fargo & Company Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its target price lifted by Wells Fargo & Company from $127.00 to $135.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on CAH. Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Citigroup lifted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.64.

Cardinal Health Stock Down 3.7 %

Shares of Cardinal Health stock opened at $123.56 on Wednesday. The business has a 50 day moving average of $122.03 and a 200 day moving average of $114.06. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $132.84. The company has a market cap of $29.90 billion, a PE ratio of 24.04, a P/E/G ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. On average, research analysts anticipate that Cardinal Health will post 7.84 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the business. Public Sector Pension Investment Board boosted its holdings in shares of Cardinal Health by 88.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,437 shares of the company’s stock valued at $928,000 after acquiring an additional 4,435 shares during the last quarter. Marshall Wace LLP bought a new stake in Cardinal Health in the 2nd quarter worth approximately $1,979,000. Creative Planning raised its stake in Cardinal Health by 0.7% during the 2nd quarter. Creative Planning now owns 41,764 shares of the company’s stock valued at $4,106,000 after buying an additional 308 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 3.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,503 shares of the company’s stock valued at $541,000 after buying an additional 189 shares during the period. Finally, Ariadne Wealth Management LP purchased a new position in shares of Cardinal Health in the 2nd quarter worth $86,000. 87.17% of the stock is currently owned by institutional investors.

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.