Cardinal Health (NYSE:CAH) Given New $133.00 Price Target at Barclays

Cardinal Health (NYSE:CAH) had its target price hoisted by Barclays from $117.00 to $133.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the company. Argus upped their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group raised their price target on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Robert W. Baird lifted their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company increased their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

CAH stock opened at $111.90 on Monday. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $119.13. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.57 and a beta of 0.60. The company has a 50 day simple moving average of $111.75 and a 200 day simple moving average of $104.15.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. On average, equities research analysts anticipate that Cardinal Health will post 7.69 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.506 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 39.30%.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 over the last ninety days. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAH. Allspring Global Investments Holdings LLC lifted its position in Cardinal Health by 379.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock valued at $11,873,000 after acquiring an additional 83,975 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Cardinal Health by 13.4% in the first quarter. Private Advisor Group LLC now owns 12,077 shares of the company’s stock worth $1,350,000 after purchasing an additional 1,428 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cardinal Health by 34.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,580 shares of the company’s stock valued at $9,576,000 after purchasing an additional 21,801 shares in the last quarter. Graypoint LLC purchased a new position in shares of Cardinal Health during the first quarter valued at approximately $265,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Cardinal Health by 37.6% during the first quarter. Daiwa Securities Group Inc. now owns 37,753 shares of the company’s stock valued at $4,224,000 after buying an additional 10,317 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Company Profile

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.