Cardinal Health (NYSE:CAH) Price Target Raised to $286.00

Cardinal Health (NYSE:CAH) had its price objective lifted by Morgan Stanley from $265.00 to $286.00 in a research report sent to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group increased their target price on shares of Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Citigroup raised their price objective on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada initiated coverage on shares of Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 price objective for the company. Wells Fargo & Company raised their price objective on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Finally, Leerink Partners set a $292.00 target price on shares of Cardinal Health in a research report on Tuesday, August 11th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $270.69.

Cardinal Health Stock Performance

CAH opened at $250.41 on Friday. The company has a market cap of $57.98 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.51 and a beta of 0.53. Cardinal Health has a one year low of $180.45 and a one year high of $259.84. The business’s fifty day moving average is $237.74 and its two-hundred day moving average is $222.29.

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

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.5158 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Insider Transactions at Cardinal Health

In related news, insider Jessica L. Mayer sold 29,436 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the transaction, the insider owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mary C. Scherer sold 2,302 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total value of $546,471.78. Following the sale, the chief accounting officer owned 2,811 shares in the company, valued at $667,303.29. This represents a 45.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors have recently modified their holdings of CAH. Chicago Partners Investment Group LLC boosted its stake in Cardinal Health by 26.3% in the third quarter. Chicago Partners Investment Group LLC now owns 1,868 shares of the company’s stock worth $466,000 after purchasing an additional 389 shares in the last quarter. Rakuten Investment Management Inc. increased its stake in shares of Cardinal Health by 9.1% during the third quarter. Rakuten Investment Management Inc. now owns 41,851 shares of the company’s stock worth $9,371,000 after purchasing an additional 3,480 shares during the period. Provenance Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 1,940.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 408 shares of the company’s stock worth $91,000 after acquiring an additional 388 shares during the period. First Nebraska Trust Co bought a new stake in shares of Cardinal Health during the third quarter worth about $18,218,000. Finally, Next Level Wealth Planning LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at about $44,000. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.