Wells Fargo & Company Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price target boosted by Wells Fargo & Company from $135.00 to $136.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

CAH has been the topic of a number of other research reports. UBS Group raised their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Citigroup increased their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Mizuho started coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.93.

Cardinal Health Price Performance

Cardinal Health stock opened at $125.29 on Tuesday. The firm has a market capitalization of $30.27 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.46 and a beta of 0.63. The company’s 50 day simple moving average is $122.16 and its 200 day simple moving average is $114.75. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts predict that Cardinal Health will post 7.92 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after acquiring an additional 627,253 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the period. Pacer Advisors Inc. lifted its stake in Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the period. Finally, Two Sigma Advisers LP increased its position in Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after buying an additional 346,362 shares during the last quarter. 87.17% of the stock is 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.