Evercore ISI Cuts Cardinal Health (NYSE:CAH) Price Target to $105.00

Cardinal Health (NYSE:CAH) had its price objective reduced by Evercore ISI from $115.00 to $105.00 in a research report report published on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other analysts also recently weighed in on CAH. StockNews.com downgraded Cardinal Health from a strong-buy rating to a buy rating in a report on Tuesday, July 2nd. Argus cut their target price on Cardinal Health from $120.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Robert W. Baird lifted their target price on Cardinal Health from $129.00 to $130.00 and gave the company an outperform rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on Cardinal Health from $96.00 to $94.00 and set an underweight rating on the stock in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has an average rating of Moderate Buy and an average target price of $109.00.

Cardinal Health Trading Down 1.2 %

NYSE:CAH opened at $94.46 on Tuesday. Cardinal Health has a twelve month low of $85.11 and a twelve month high of $116.04. The company has a market cap of $23.01 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61. The stock has a fifty day simple moving average of $98.61 and a 200-day simple moving average of $104.12.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same period last year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Cardinal Health will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 89.78%.

Institutional Investors Weigh In On Cardinal Health

A number of large investors have recently bought and sold shares of CAH. Jacobs Levy Equity Management Inc. boosted its position in Cardinal Health by 601.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 81,965 shares of the company’s stock valued at $7,116,000 after buying an additional 70,285 shares during the last quarter. Comerica Bank boosted its position in Cardinal Health by 365.6% in the third quarter. Comerica Bank now owns 109,064 shares of the company’s stock valued at $9,469,000 after buying an additional 85,638 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Cardinal Health by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 27,352 shares of the company’s stock valued at $2,375,000 after acquiring an additional 2,972 shares during the period. EP Wealth Advisors LLC acquired a new position in Cardinal Health in the third quarter valued at approximately $258,000. Finally, Deutsche Bank AG lifted its holdings in Cardinal Health by 64.9% in the third quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock valued at $89,222,000 after acquiring an additional 404,609 shares during the period. Hedge funds and other 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.