Cardinal Health (NYSE:CAH) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Cardinal Health (NYSE:CAH) from a buy rating to a strong-buy rating in a research note released on Sunday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Evercore reaffirmed an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research report on Wednesday, August 12th. Citigroup raised their target price on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Barclays boosted their target price on Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. UBS Group upped their price target on Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a report on Friday, October 16th. Finally, Royal Bank Of Canada initiated coverage on shares of Cardinal Health in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price target on the stock. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.38.

Cardinal Health Trading Down 0.0%

Shares of NYSE:CAH opened at $249.47 on Friday. Cardinal Health has a 52 week low of $158.70 and a 52 week high of $259.21. The company’s 50 day moving average is $236.46 and its two-hundred day moving average is $223.81. The company has a market cap of $57.77 billion, a PE ratio of 34.50, a P/E/G ratio of 1.50 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts expect that Cardinal Health will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.5158 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica Mayer sold 29,436 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the sale, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle Greene sold 11,650 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares of the company’s stock, valued at $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 210,271 shares of company stock valued at $49,626,657. 0.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Downshift Financial LLC boosted its holdings in shares of Cardinal Health by 3,666.7% in the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 110 shares during the period. Investors Research Corp acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $29,000. Maryland Capital Advisors Inc. increased its holdings in shares of Cardinal Health by 12,600.0% in the 3rd quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 126 shares during the period. Allied Private Wealth LLC purchased a new stake in Cardinal Health in the 2nd quarter valued at $30,000. Finally, NBH Bank purchased a new stake in Cardinal Health in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.