Cardinal Health (NYSE:CAH) had its price target raised by Morgan Stanley from $40.00 to $50.00 in a research report report published on Monday. The firm currently has an underweight rating on the stock.

Several other brokerages have also recently issued reports on CAH. Leerink Swann cut shares of Cardinal Health from an outperform rating to a market perform rating and set a $55.00 target price on the stock. in a report on Friday, November 16th. Jefferies Financial Group reiterated a hold rating and set a $61.00 target price on shares of Cardinal Health in a report on Wednesday, November 14th. Zacks Investment Research upgraded shares of Cardinal Health from a sell rating to a hold rating in a report on Tuesday, November 13th. ValuEngine upgraded shares of Cardinal Health from a strong sell rating to a sell rating in a report on Monday, November 12th. Finally, Royal Bank of Canada set a $57.00 target price on shares of Cardinal Health and gave the stock a hold rating in a report on Friday, November 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Cardinal Health currently has a consensus rating of Hold and an average target price of $61.36.

Shares of Cardinal Health stock opened at $55.07 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. Cardinal Health has a 1 year low of $48.14 and a 1 year high of $75.75. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.21. Cardinal Health had a net margin of 0.53% and a return on equity of 23.97%. The company had revenue of $35.21 billion for the quarter, compared to analysts’ expectations of $33.66 billion. During the same period in the prior year, the business earned $1.09 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Cardinal Health will post 5 earnings per share for the current fiscal year.

Cardinal Health announced that its board has authorized a share repurchase plan on Thursday, November 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be issued a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, December 31st. Cardinal Health’s dividend payout ratio is currently 38.20%.

In other news, SVP Stuart G. Laws sold 804 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $55.55, for a total value of $44,662.20. Following the sale, the senior vice president now directly owns 6,342 shares in the company, valued at approximately $352,298.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Cardinal Health by 22.0% in the 3rd quarter. Vanguard Group Inc. now owns 28,021,950 shares of the company’s stock valued at $1,513,186,000 after buying an additional 5,058,369 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Cardinal Health by 6.8% in the 3rd quarter. Legal & General Group Plc now owns 1,846,326 shares of the company’s stock valued at $99,702,000 after buying an additional 117,018 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Cardinal Health by 5,300.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 11,178 shares of the company’s stock valued at $207,000 after buying an additional 10,971 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its holdings in shares of Cardinal Health by 19.4% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 8,320 shares of the company’s stock valued at $449,000 after buying an additional 1,350 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $1,884,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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