Cardinal Health (NYSE:CAH) Reaches New 52-Week High - Here's What Happened

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $133.01 and last traded at $132.62, with a volume of 199689 shares traded. The stock had previously closed at $132.12.

Analyst Ratings Changes

CAH has been the subject of a number of recent research reports. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price objective for the company. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and boosted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Morgan Stanley lifted their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Argus set a $148.00 target price on shares of Cardinal Health in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.36.

Cardinal Health Stock Performance

The company has a market capitalization of $32.09 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.49 and a beta of 0.66. The business's fifty day simple moving average is $127.35 and its 200-day simple moving average is $120.08.

Remove Ads

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.52%. Cardinal Health's dividend payout ratio is currently 37.69%.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the business. Cyrus J. Lawrence LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth $26,000. Promus Capital LLC bought a new stake in Cardinal Health during the fourth quarter worth approximately $30,000. Bellwether Advisors LLC bought a new stake in Cardinal Health during the fourth quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $36,000. Institutional investors own 87.17% of the company's stock.

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.