Wells Fargo & Company Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH - Free Report) had its price target lifted by Wells Fargo & Company from $127.00 to $135.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

CAH has been the subject of a number of other research reports. StockNews.com cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 3rd. Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $132.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $135.21.

Cardinal Health Stock Down 0.2 %

Shares of NYSE CAH traded down $0.20 during mid-day trading on Wednesday, reaching $127.53. 3,721,050 shares of the company were exchanged, compared to its average volume of 2,075,826. The company's 50-day simple moving average is $121.75 and its 200-day simple moving average is $113.66. The stock has a market capitalization of $30.86 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.57 and a beta of 0.63. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $131.29.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analysts' expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, equities research analysts expect that Cardinal Health will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health's dividend payout ratio is currently 39.30%.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently made changes to their positions in CAH. Eastern Bank bought a new stake in shares of Cardinal Health during the 3rd quarter valued at approximately $25,000. Frazier Financial Advisors LLC grew its holdings in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Hara Capital LLC acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $31,000. AM Squared Ltd acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $33,000. Finally, Kentucky Trust Co acquired a new stake in Cardinal Health during the 4th quarter worth approximately $41,000. 87.17% of the stock is owned by institutional investors.

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.