Cardinal Health (NYSE:CAH) Given New $120.00 Price Target at Mizuho

Cardinal Health (NYSE:CAH) had its target price raised by Mizuho from $110.00 to $120.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on CAH. UBS Group boosted their price target on shares of Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Argus upped their price target on 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 Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Finally, Evercore ISI boosted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Performance

Cardinal Health stock opened at $118.22 on Monday. The firm has a 50 day moving average price of $112.07 and a 200 day moving average price of $104.41. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $119.58. The company has a market capitalization of $28.61 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cardinal Health will post 7.84 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Insider Activity

In related news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,963 shares of company stock valued at $12,379,980. Insiders own 0.09% of the company’s stock.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its holdings in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the period. Acadian Asset Management LLC increased its stake in Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after buying an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD raised its position in Cardinal Health by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after buying an additional 14,030 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Cardinal Health by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after acquiring an additional 111,137 shares in the last quarter. 87.17% of the stock is 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.