Cardinal Health (NYSE:CAH) Sets New 52-Week High – What’s Next?

Cardinal Health, Inc. (NYSE:CAH) hit a new 52-week high on Wednesday . The stock traded as high as $234.86 and last traded at $234.8680, with a volume of 515769 shares traded. The stock had previously closed at $228.91.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Evercore lowered their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Citigroup dropped their price target on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a report on Friday, May 1st. Finally, Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.93.

Cardinal Health Trading Up 2.5%

The stock’s 50-day moving average price is $204.76 and its 200-day moving average price is $209.61. The company has a market capitalization of $54.97 billion, a P/E ratio of 35.87, a P/E/G ratio of 1.22 and a beta of 0.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.5158 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 31.19%.

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health during the fourth quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cardinal Health during the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the 4th quarter valued at about $27,000. Jones Financial Companies Lllp grew its position in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. Finally, Palladiem LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $28,000. 87.17% of the stock is owned by institutional investors and hedge funds.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.