Cardinal Health (NYSE:CAH) Reaches New 1-Year High on Analyst Upgrade

Shares of Cardinal Health, Inc. (NYSE:CAH) reached a new 52-week high during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $142.00 to $150.00. Mizuho currently has an outperform rating on the stock. Cardinal Health traded as high as $138.62 and last traded at $137.83, with a volume of 2472672 shares. The stock had previously closed at $136.44.

Other analysts have also issued reports about the company. Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Citigroup increased their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.14.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CAH. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $26,000. Promus Capital LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $30,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new position in Cardinal Health in the fourth quarter valued at about $35,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Cardinal Health during the fourth quarter worth about $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 1.2 %

The business’s 50-day simple moving average is $128.98 and its two-hundred day simple moving average is $121.33. The firm has a market capitalization of $33.53 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share 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%. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

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.