Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Cardinal Health (NYSE:CAH - Free Report) had its price objective increased by Robert W. Baird from $156.00 to $170.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

CAH has been the topic of several other research reports. Citigroup boosted their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Morgan Stanley raised their target price on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $144.71.

Cardinal Health Stock Up 2.8 %

CAH traded up $4.06 on Friday, hitting $149.59. 3,365,880 shares of the company traded hands, compared to its average volume of 2,190,685. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $150.12. The company has a 50 day moving average of $132.38 and a 200-day moving average of $125.16. The stock has a market capitalization of $36.14 billion, a PE ratio of 27.91, a PEG ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same period last year, the company earned $2.08 earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts anticipate that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health's payout ratio is 37.69%.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. lifted its holdings in Cardinal Health by 11.2% in the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after purchasing an additional 77 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Cardinal Health by 10.1% in the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock valued at $101,000 after buying an additional 79 shares during the last quarter. CSS LLC IL lifted its stake in shares of Cardinal Health by 0.8% during the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after buying an additional 90 shares during the period. Perigon Wealth Management LLC boosted its position in Cardinal Health by 4.2% during the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after acquiring an additional 90 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV grew its stake in Cardinal Health by 2.1% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after acquiring an additional 91 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.