Cardinal Health (NYSE:CAH) Reaches New 1-Year High After Analyst Upgrade

Shares of Cardinal Health, Inc. (NYSE:CAH - Get Free Report) hit a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $150.00 to $160.00. UBS Group currently has a buy rating on the stock. Cardinal Health traded as high as $139.97 and last traded at $139.79, with a volume of 499827 shares traded. The stock had previously closed at $138.24.

A number of other analysts have also weighed in on the company. Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and increased their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Mizuho increased their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Finally, Wells Fargo & Company increased their target price on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.36.

Institutional Investors Weigh In On Cardinal Health

Hedge funds have recently made changes to their positions in the business. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $26,000. Tompkins Financial Corp boosted its stake in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares during the period. Promus Capital LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $30,000. Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $32,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Cardinal Health in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.49 and a beta of 0.61. The stock's 50-day moving average is $131.05 and its 200 day moving average is $124.27.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.45%. Cardinal Health's payout ratio is 37.69%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.