Cardinal Health (NYSE:CAH) Price Target Raised to $125.00 at Argus

Cardinal Health (NYSE:CAH) had its price objective upped by Argus from $115.00 to $125.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on CAH. Evercore ISI raised their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an in-line rating in a research note on Thursday, August 15th. Robert W. Baird lifted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an outperform rating in a research note on Thursday, August 15th. Morgan Stanley increased their target price on Cardinal Health from $114.00 to $119.00 and gave the company an overweight rating in a research note on Thursday, August 15th. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a neutral rating for the company in a research report on Friday, July 19th. Finally, UBS Group increased their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the company a buy rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $119.36.

Cardinal Health Stock Performance

NYSE:CAH opened at $113.17 on Wednesday. The stock’s fifty day moving average price is $103.98 and its two-hundred day moving average price is $104.11. The company has a market cap of $27.60 billion, a price-to-earnings ratio of 50.30, a P/E/G ratio of 1.55 and a beta of 0.60. Cardinal Health has a 52-week low of $85.82 and a 52-week high of $116.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. On average, equities analysts predict that Cardinal Health will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 89.78%.

Insider Buying and Selling

In related news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of CAH. Pacer Advisors Inc. boosted its position in Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after buying an additional 598,002 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cardinal Health by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock valued at $305,584,000 after buying an additional 14,030 shares in the last quarter. Norges Bank acquired a new position in Cardinal Health during the fourth quarter worth $258,499,000. Finally, ProShare Advisors LLC raised its position in Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

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.