Cardinal Health (NYSE:CAH) Reaches New 52-Week High Following Analyst Upgrade

Cardinal Health, Inc. (NYSE:CAH - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $142.00 to $150.00. Mizuho currently has an outperform rating on the stock. Cardinal Health traded as high as $138.62 and last traded at $137.83, with a volume of 2472672 shares changing hands. The stock had previously closed at $136.44.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their target price on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and upped their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $140.14.

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Institutional Investors Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company's stock valued at $1,566,913,000 after buying an additional 627,253 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after purchasing an additional 109,273 shares during the period. Invesco Ltd. grew its holdings in shares of Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock valued at $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP increased its position in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Cardinal Health by 16.2% during the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Down 2.1 %

The firm's fifty day simple moving average is $128.98 and its two-hundred day simple moving average is $121.33. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share 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 fiscal year.

Cardinal Health Announces Dividend

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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is 37.69%.

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.