Cardinal Health (NYSE:CAH) Sets New 12-Month High - Here's Why

Shares of Cardinal Health, Inc. (NYSE:CAH - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $157.82 and last traded at $155.21, with a volume of 279512 shares. The stock had previously closed at $155.25.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $136.00 to $179.00 in a report on Tuesday. UBS Group raised their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Mizuho upped their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. 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 report on Friday, May 2nd. Finally, Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $149.50.

Cardinal Health Stock Down 0.1%

The company has a market cap of $36.72 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock has a 50 day moving average price of $142.85 and a two-hundred day moving average price of $130.95.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The company's revenue was up .0% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 1.33%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.83%.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Cardinal Health by 1,666.7% in the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after purchasing an additional 2,249,241 shares during the period. Norges Bank bought a new position in Cardinal Health in the 4th quarter valued at about $246,748,000. Marshall Wace LLP raised its position in shares of Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after buying an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth approximately $141,963,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after acquiring an additional 1,193,983 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

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.