Cardinal Health (NYSE:CAH) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Cardinal Health (NYSE:CAH) from an in-line rating to an outperform rating in a research note published on Tuesday morning, MarketBeat.com reports. Evercore ISI currently has $140.00 price target on the stock.

A number of other research firms have also commented on CAH. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Argus increased their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $145.00 in a research note on Monday. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $131.71.

Cardinal Health Stock Up 1.0 %

Shares of Cardinal Health stock opened at $122.56 on Tuesday. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23. The stock has a market capitalization of $29.66 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The company has a 50-day simple moving average of $119.77 and a 200 day simple moving average of $110.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.73 earnings per share. On average, equities analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors have recently modified their holdings of the stock. Eastern Bank acquired a new stake in Cardinal Health during the 3rd quarter worth $25,000. Frazier Financial Advisors LLC raised its position in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter valued at about $29,000. Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $31,000. Finally, AM Squared Ltd bought a new stake in Cardinal Health during the 3rd quarter worth approximately $33,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.