Cardinal Health (NYSE:CAH) PT Lowered to $105.00

Cardinal Health (NYSE:CAH) had its target price lowered by Evercore ISI from $115.00 to $105.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other equities analysts have also commented on CAH. Robert W. Baird increased their target price on Cardinal Health from $129.00 to $130.00 and gave the company an outperform rating in a report on Tuesday. Argus cut their target price on Cardinal Health from $120.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. Wells Fargo & Company lowered their price target on Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a report on Monday, April 29th. Finally, StockNews.com cut shares of Cardinal Health from a strong-buy rating to a buy rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of Moderate Buy and an average price target of $109.00.

Cardinal Health Trading Down 1.2 %

CAH opened at $94.46 on Tuesday. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 1.07 and a beta of 0.61. The stock’s 50-day moving average price is $98.61 and its 200 day moving average price is $104.12. Cardinal Health has a 12-month low of $85.11 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

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

Hedge Funds Weigh In On Cardinal Health

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Cardinal Health by 2.8% in the 2nd quarter. CWM LLC now owns 12,500 shares of the company’s stock valued at $1,229,000 after purchasing an additional 345 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Cardinal Health by 168.5% in the 2nd quarter. Park Avenue Securities LLC now owns 17,657 shares of the company’s stock valued at $1,736,000 after purchasing an additional 11,082 shares during the last quarter. New England Research & Management Inc. purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $396,000. Mather Group LLC. grew its stake in shares of Cardinal Health by 20.7% in the 2nd quarter. Mather Group LLC. now owns 6,685 shares of the company’s stock valued at $657,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new position in shares of Cardinal Health in the 2nd quarter valued at approximately $313,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.