Cardinal Health (NYSE:CAH) Upgraded by Evercore ISI to “Outperform” Rating

Evercore ISI upgraded shares of Cardinal Health (NYSE:CAH) from an in-line rating to an outperform rating in a report issued on Tuesday, MarketBeat reports. The firm currently has $140.00 price objective on the stock.

Several other equities research analysts have also weighed in on CAH. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $101.00 to $127.00 in a report on Friday, December 13th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. UBS Group upped their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $130.77.

Cardinal Health Price Performance

CAH opened at $121.11 on Tuesday. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $126.23. The company has a market capitalization of $29.31 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 0.63. The firm’s fifty day moving average price is $119.20 and its two-hundred day moving average price is $110.68.

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

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Eastern Bank bought a new position in Cardinal Health during the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its holdings in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Cardinal Health in the third quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the 2nd quarter valued at $29,000. Finally, AM Squared Ltd bought a new stake in Cardinal Health in the 3rd quarter worth $33,000. 87.17% of the stock is owned by institutional investors.

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.