Cardinal Health, Inc. (NYSE:CAH) Stock Has Consensus Target Price of $266.56

Cardinal Health, Inc. (NYSE:CAH) has received an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $266.56.

Several research firms have weighed in on CAH. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. increased their price target 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. Bank of America raised their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada started coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price target on the stock.

Insider Buying and Selling

In other Cardinal Health news, CEO Stephen M. Mason sold 35,000 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total value of $8,274,000.00. Following the sale, the chief executive officer owned 18,061 shares in the company, valued at $4,269,620.40. The trade was a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason M. Hollar sold 80,000 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total value of $18,859,200.00. Following the completion of the sale, the chief executive officer owned 235,132 shares in the company, valued at $55,430,017.68. This represents a 25.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

Hedge funds have recently modified their holdings of the business. Downshift Financial LLC increased its position in shares of Cardinal Health by 3,666.7% during the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Investors Research Corp acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $29,000. Maryland Capital Advisors Inc. boosted its position in shares of Cardinal Health by 12,600.0% during the 3rd quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 126 shares during the period. Allied Private Wealth LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $30,000. Finally, NBH Bank acquired a new stake in Cardinal Health in the 2nd quarter valued at approximately $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

NYSE CAH opened at $253.44 on Friday. The stock’s fifty day moving average is $234.20 and its two-hundred day moving average is $222.00. The firm has a market capitalization of $58.69 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50. Cardinal Health has a fifty-two week low of $152.46 and a fifty-two week high of $258.30.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $65.15 billion. During the same period last year, the company earned $2.08 EPS. The company’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. As a group, sell-side analysts forecast that Cardinal Health will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, October 1st. Cardinal Health’s dividend payout ratio is presently 28.49%.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.