Cardinal Health (NYSE:CAH) Reaches New 12-Month High - What's Next?

Cardinal Health, Inc. (NYSE:CAH - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $165.11 and last traded at $164.89, with a volume of 2176144 shares. The stock had previously closed at $162.41.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group upped their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $181.00 target price on Cardinal Health and gave the company an "overweight" rating in a research note on Friday, June 13th. Mizuho lifted their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Finally, Evercore ISI restated an "outperform" rating and issued a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Price Performance

The stock has a market cap of $39.50 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 1.84 and a beta of 0.66. The stock's 50 day simple moving average is $148.17 and its two-hundred day simple moving average is $133.48.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 EPS. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.23%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio is 31.51%.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after buying an additional 77 shares during the period. Rothschild Investment LLC lifted its position in Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company's stock valued at $101,000 after acquiring an additional 79 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in Cardinal Health by 1.4% in the 1st quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after purchasing an additional 85 shares during the period. CSS LLC IL increased its holdings in Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after purchasing an additional 90 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock valued at $309,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds 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.