Cardinal Health (NYSE:CAH) Rating Increased to Buy at TD Cowen

TD Cowen upgraded shares of Cardinal Health (NYSE:CAH - Free Report) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has $144.00 price objective on the stock, up from their previous price objective of $130.00.

Several other analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a report on Monday, November 4th. UBS Group increased their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Argus lifted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Morgan Stanley upped their target price on Cardinal Health from $127.00 to $136.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upgraded Cardinal Health from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $131.71.

Cardinal Health Stock Up 1.0 %

Shares of CAH traded up $1.16 during trading hours on Wednesday, reaching $122.56. 2,261,854 shares of the company traded hands, compared to its average volume of 2,325,971. The business has a fifty day moving average price of $119.49 and a 200-day moving average price of $110.76. 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 P/E/G ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. As a group, research analysts predict that Cardinal Health will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health's dividend payout ratio is presently 39.30%.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Eastern Bank purchased a new position in Cardinal Health in the third quarter worth 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 worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth $29,000. Hara Capital LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth about $31,000. Finally, AM Squared Ltd purchased a new stake in Cardinal Health in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds 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.