Wells Fargo & Company Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price objective increased by Wells Fargo & Company from $127.00 to $135.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued research reports about the stock. UBS Group increased their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Citigroup raised their price target on 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 upped their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $135.21.

Cardinal Health Stock Down 0.2 %

Shares of NYSE:CAH opened at $127.53 on Wednesday. The stock has a market cap of $30.86 billion, a PE ratio of 24.81, a P/E/G ratio of 1.57 and a beta of 0.63. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $131.29. The business has a 50 day moving average of $121.90 and a 200-day moving average of $113.75.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. Equities research analysts expect that Cardinal Health will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAH. State Street Corp grew its holdings in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the last quarter. Two Sigma Advisers LP raised its position in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after buying an additional 333,095 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Cardinal Health in the third quarter valued at about $30,820,000. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Cardinal Health by 77.3% during the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock worth $65,539,000 after acquiring an additional 258,541 shares during the last quarter. 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.