Cardinal Health (NYSE:CAH) Price Target Raised to $240.00

Cardinal Health (NYSE:CAH) had its price objective upped by Mizuho from $235.00 to $240.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently weighed in on CAH. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. William Blair assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Evercore decreased their target price on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Finally, Bank of America lifted their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $251.73.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $227.96 on Thursday. The stock has a market capitalization of $53.39 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49. The company has a 50-day simple moving average of $219.98 and a two-hundred day simple moving average of $214.43. Cardinal Health has a 52-week low of $137.75 and a 52-week high of $243.21.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company had revenue of $60.94 billion during the quarter, compared to analyst estimates of $62.10 billion. During the same period in the previous year, the business earned $2.35 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts forecast that Cardinal Health will post 10.77 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.5158 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC boosted its stake in shares of Cardinal Health by 0.8% in the second quarter. Wedge Capital Management L L P NC now owns 139,784 shares of the company’s stock worth $33,207,000 after acquiring an additional 1,175 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. Annex Advisory Services LLC grew its position in Cardinal Health by 6.6% in the 2nd quarter. Annex Advisory Services LLC now owns 2,870 shares of the company’s stock valued at $682,000 after acquiring an additional 178 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in Cardinal Health by 7.3% in the 2nd quarter. Insight Wealth Strategies LLC now owns 15,073 shares of the company’s stock valued at $3,583,000 after buying an additional 1,024 shares during the period. Finally, Whitener Capital Management Inc. purchased a new position in shares of Cardinal Health in the 2nd quarter valued at about $214,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.