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Cardinal Health (NYSE:CAH) Price Target Raised to $170.00 at Bank of America

Cardinal Health logo with Medical background

Cardinal Health (NYSE:CAH - Free Report) had its target price boosted by Bank of America from $165.00 to $170.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on CAH. Citigroup reaffirmed a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Robert W. Baird raised their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group boosted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho increased their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $157.43.

View Our Latest Research Report on CAH

Cardinal Health Price Performance

Shares of Cardinal Health stock traded up $0.76 during midday trading on Tuesday, reaching $161.28. The company had a trading volume of 2,722,179 shares, compared to its average volume of 2,227,825. The stock has a fifty day moving average price of $146.04 and a 200 day moving average price of $132.62. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $162.91. The firm has a market cap of $38.49 billion, a PE ratio of 30.09, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company's quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 31.83%.

Institutional Trading of Cardinal Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAH. Consolidated Planning Corp boosted its position in shares of Cardinal Health by 40.0% during the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock valued at $1,056,000 after buying an additional 2,552 shares during the last quarter. Flputnam Investment Management Co. lifted its position in shares of Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock valued at $21,358,000 after purchasing an additional 3,148 shares in the last quarter. Huntington National Bank boosted its holdings in Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after purchasing an additional 128 shares during the last quarter. JSF Financial LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth approximately $967,000. Finally, Strategic Financial Concepts LLC bought a new position in Cardinal Health in the 4th quarter valued at $93,000. 87.17% of the stock is owned by institutional investors.

About Cardinal Health

(Get Free Report)

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.

Further Reading

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