Cardinal Health (NYSE:CAH) Reaches New 12-Month High - Here's What Happened

Cardinal Health, Inc. (NYSE:CAH - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $133.68 and last traded at $132.86, with a volume of 2122562 shares changing hands. The stock had previously closed at $133.21.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAH. Citigroup raised their target price on shares of 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 raised their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. 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 note on Tuesday, February 4th. Finally, Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and upped their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.36.

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Cardinal Health Trading Down 0.2 %

The firm has a market capitalization of $32.96 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business's 50 day simple moving average is $128.36 and its two-hundred day simple moving average is $120.80.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts' consensus estimates 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 predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's payout ratio is currently 37.69%.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Cardinal Health during the 4th quarter valued at about $246,748,000. Marshall Wace LLP boosted its holdings in Cardinal Health by 154.6% in 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. Castlekeep Investment Advisors LLC bought a new stake in Cardinal Health in the 4th quarter worth approximately $141,963,000. Junto Capital Management LP purchased a new stake in Cardinal Health during the 4th quarter valued at $92,811,000. Finally, Woodline Partners LP bought a new position in shares of Cardinal Health during the 4th quarter valued at $87,144,000. 87.17% of the stock is currently owned by institutional investors.

About Cardinal Health

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.