Cardinal Health, Inc. (NYSE:CAH) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $140.86.

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and boosted their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Finally, Argus set a $148.00 price objective on Cardinal Health in a research note on Tuesday, February 4th.

Cardinal Health Price Performance

Cardinal Health stock traded up $2.77 during trading hours on Monday, hitting $131.65. The company had a trading volume of 2,168,139 shares, compared to its average volume of 2,179,592. The firm has a 50-day moving average of $129.33 and a 200 day moving average of $122.39. The firm has a market cap of $31.80 billion, a PE ratio of 24.56, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health has a one year low of $93.17 and a one year high of $139.50.

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Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, research analysts expect that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.54%. Cardinal Health's payout ratio is currently 37.69%.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter worth $246,748,000. Marshall Wace LLP grew its position in Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Cardinal Health in the 4th quarter worth about $141,963,000. GAMMA Investing LLC raised its position in Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after purchasing an additional 959,486 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of Cardinal Health during the fourth quarter valued at about $92,811,000. Institutional investors own 87.17% of the company's stock.

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.