Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cardinal Health (NYSE:CAH) had its price objective lifted by JPMorgan Chase & Co. from $132.00 to $142.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also weighed in on CAH. Citigroup raised their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.64.

Cardinal Health Trading Down 0.3 %

NYSE CAH opened at $128.89 on Friday. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $129.68. The stock’s 50 day moving average is $121.36 and its two-hundred day moving average is $112.92. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period last year, the business earned $1.73 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, analysts predict that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business 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. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Patron Partners LLC boosted its position in shares of Cardinal Health by 6.1% during the fourth quarter. Patron Partners LLC now owns 2,043 shares of the company’s stock worth $242,000 after purchasing an additional 117 shares in the last quarter. Columbus Macro LLC lifted its holdings in Cardinal Health by 55.1% during the fourth quarter. Columbus Macro LLC now owns 18,319 shares of the company’s stock worth $2,167,000 after acquiring an additional 6,510 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in Cardinal Health by 1.9% in the fourth quarter. Resonant Capital Advisors LLC now owns 8,698 shares of the company’s stock valued at $1,029,000 after acquiring an additional 160 shares during the period. HHM Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. Finally, Burford Brothers Inc. bought a new position in shares of Cardinal Health during the 4th quarter valued at about $1,256,000. 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.