Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Citigroup Analyst Says

Cardinal Health (NYSE:CAH - Free Report) had its price objective raised by Citigroup from $157.00 to $170.00 in a research note published on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

CAH has been the topic of several other research reports. Bank of America lifted their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday. Mizuho boosted their price objective on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. UBS Group boosted their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Finally, Evercore ISI increased their target price on Cardinal Health from $175.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday. Three 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. According to MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Trading Up 0.5%

Cardinal Health stock traded up $0.76 during mid-day trading on Friday, hitting $161.28. 2,722,179 shares of the company's stock were exchanged, compared to its average volume of 2,227,825. The stock has a market cap of $38.49 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $162.91. The stock has a 50 day moving average of $145.31 and a two-hundred day moving average of $132.35.

Cardinal Health (NYSE:CAH - Get Free Report) last announced 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 firm had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. As a group, research analysts predict that Cardinal Health will post 7.95 EPS for the current fiscal 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 paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.27%. This is an increase 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 (DPR) is currently 31.83%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Flputnam Investment Management Co. boosted its stake in shares of Cardinal Health by 1.8% during the 4th quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock worth $21,358,000 after acquiring an additional 3,148 shares during the period. Huntington National Bank lifted its position 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 period. Fisher Asset Management LLC bought a new stake in Cardinal Health during the fourth quarter worth about $368,000. Vontobel Holding Ltd. lifted its position in Cardinal Health by 31.4% during the fourth quarter. Vontobel Holding Ltd. now owns 67,519 shares of the company's stock worth $7,985,000 after purchasing an additional 16,125 shares during the period. Finally, Truist Financial Corp raised its stake in Cardinal Health by 29.5% during the fourth quarter. Truist Financial Corp now owns 108,486 shares of the company's stock worth $12,831,000 after acquiring an additional 24,732 shares in the last quarter. 87.17% of the stock is currently owned by 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.