Cardinal Health (NYSE:CAH) Price Target Raised to $280.00

Cardinal Health (NYSE:CAH) had its price target raised by Citigroup from $265.00 to $280.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen lifted their target price on Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. UBS Group lifted their price objective on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Price Performance

Shares of CAH opened at $234.92 on Wednesday. The firm has a 50-day moving average of $230.30 and a 200-day moving average of $217.14. The company has a market cap of $54.64 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.37 and a beta of 0.49. Cardinal Health has a one year low of $145.87 and a one year high of $258.30.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Analysts expect that Cardinal Health will post 12.52 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC grew its holdings in shares of Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Cardinal Health during the second quarter valued at $1,935,000. Cerity Partners LLC lifted its holdings in shares of Cardinal Health by 17.0% during the second quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after purchasing an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC boosted its holdings in Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,646 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.