Brokerages Set Cardinal Health, Inc. (NYSE:CAH) Target Price at $266.56

Cardinal Health, Inc. (NYSE:CAH) has received a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $266.5625.

Several brokerages have commented on CAH. Leerink Partners set a $292.00 price target on Cardinal Health in a report on Tuesday, August 11th. Bank of America boosted their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th.

Cardinal Health Stock Performance

CAH opened at $232.56 on Monday. The company has a market cap of $54.09 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The stock has a 50-day moving average of $234.10 and a 200-day moving average of $219.85. Cardinal Health has a 52-week low of $145.87 and a 52-week high of $258.30.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts predict that Cardinal Health will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 28.49%.

Insider Buying and Selling

In other news, insider Jessica Mayer sold 29,436 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the transaction, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Greene sold 11,650 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. This represents a 53.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 in the last quarter. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Hedge funds have recently modified their holdings of the business. Investors Research Corp bought a new position in Cardinal Health during the second quarter worth $29,000. Allied Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter valued at $30,000. NBH Bank bought a new stake in Cardinal Health in the 2nd quarter valued at $31,000. Indiana Trust & Investment Management Co acquired a new stake in Cardinal Health in the 1st quarter worth $29,000. Finally, Palladiem LLC bought a new position in shares of Cardinal Health during the 4th quarter worth about $28,000. 87.17% of the stock is owned by institutional investors.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.