Cardinal Health (NYSE:CAH) Sets New 52-Week High After Analyst Upgrade

Cardinal Health, Inc. (NYSE:CAH - Get Free Report)'s stock price reached 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 trading hands. The stock had previously closed at $136.44.

A number of other brokerages also recently issued reports on CAH. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Morgan Stanley boosted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.14.

Institutional Inflows and Outflows

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

Cardinal Health Stock Performance

The company's 50-day moving average price is $129.15 and its 200 day moving average price is $121.55. The stock has a market capitalization of $31.25 billion, a PE ratio of 24.14, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm 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 $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is presently 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.