Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

by · The Markets Daily

Cardinal Health (NYSE:CAH – Free Report) had its target price raised by Deutsche Bank Aktiengesellschaft from $119.00 to $124.00 in a research report released on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts also recently commented on CAH. Argus lifted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley lifted their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Mizuho lifted their price target on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays increased their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.00.

View Our Latest Report on Cardinal Health

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $111.90 on Monday. The stock has a market capitalization of $27.08 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.57 and a beta of 0.60. The business has a 50-day moving average of $111.75 and a two-hundred day moving average of $104.15. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $119.13.

Cardinal Health (NYSE:CAH – Get Free Report) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. As a group, research analysts expect that Cardinal Health will post 7.69 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.506 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock worth $12,379,980. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in CAH. Eastern Bank bought a new position in Cardinal Health during the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the second quarter valued at approximately $29,000. Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

About Cardinal Health

(Get Free Report)

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.

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