Cardinal Health (NYSE:CAH) Price Target Lowered to $128.00 at Robert W. Baird

Cardinal Health (NYSE:CAH) had its price objective trimmed by Robert W. Baird from $134.00 to $128.00 in a report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

CAH has been the topic of a number of other reports. StockNews.com upgraded Cardinal Health from a buy rating to a strong-buy rating in a report on Thursday. SVB Leerink started coverage on Cardinal Health in a research note on Monday, February 26th. They issued an outperform rating and a $125.00 price target on the stock. Argus upgraded Cardinal Health from a hold rating to a buy rating in a report on Friday, February 9th. Leerink Partnrs restated an outperform rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, Wells Fargo & Company lowered their target price on shares of Cardinal Health from $96.00 to $94.00 and set an underweight rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of Moderate Buy and an average target price of $105.79.

Cardinal Health Price Performance

Cardinal Health stock traded down $4.07 during trading on Friday, reaching $98.91. 3,446,183 shares of the company were exchanged, compared to its average volume of 2,028,678. The stock’s 50 day simple moving average is $109.10 and its two-hundred day simple moving average is $105.01. The company has a market capitalization of $24.06 billion, a P/E ratio of 43.96, a PEG ratio of 1.03 and a beta of 0.71. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter in the previous year, the company posted $1.74 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Cardinal Health will post 7.34 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 88.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its holdings in shares of Cardinal Health by 9.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock valued at $7,301,000 after purchasing an additional 7,174 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Cardinal Health by 5.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,173 shares of the company’s stock valued at $3,227,000 after buying an additional 2,024 shares in the last quarter. Raymond James & Associates lifted its holdings in Cardinal Health by 3.8% during the 3rd quarter. Raymond James & Associates now owns 255,118 shares of the company’s stock worth $22,149,000 after buying an additional 9,277 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Cardinal Health by 13.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 99,296 shares of the company’s stock worth $8,621,000 after acquiring an additional 11,451 shares in the last quarter. Finally, Independent Advisor Alliance boosted its position in shares of Cardinal Health by 11.9% during the 3rd quarter. Independent Advisor Alliance now owns 13,042 shares of the company’s stock worth $1,132,000 after acquiring an additional 1,384 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

About Cardinal Health

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.