As of April 13, 2023, Cardinal Health, Inc. (NYSE:CAH) has received an average analyst recommendation of “Hold” from the fifteen experts currently covering the company’s shares, according to Bloomberg.com. These analysts have assigned eight holds, three buys and one strong buy rating to Cardinal Health’s stock. The 12-month price target among those who have updated their coverage on CAH in the past year averaged $80.08.
Cardinal Health is a healthcare services and products provider that offers individual solutions for hospitals, healthcare systems, pharmacies, clinical labs, ambulatory surgery centers and physician offices. The firm provides medical products, pharmaceuticals and supply chain optimization solutions that deliver cost-effective results.
Shares of NYSE: CAH saw an opening value of $79.15 on Thursday. Over the course of the past year, Cardinal Health’s stock recorded a low of $49.70 and a high of $81.57 in trading activities. At present, this business possessess a market capitalization worth $20.39 billion with a PE ratio standing at 14.52 along with beta score of .74 while having a PEG ratio 1.26 marks further strength as compared to other stocks present in same industry range., The two-hundred day moving average indicates its price was stable at $75.67 whereas it opened at at $75/54 for past fifty days completing statistical signiicance about no change from last year until today.
The aforementioned figures imply that overall consensus regarding Cardinal Health suggests keeping this stock on hold with potential fluctuations in prices largely dependent upon government policies and market trends which may affect industry performance.
In conclusion it can be said that despite certain upsides attached with shares marking strength,the overall scenario suggests cautionary stance for short term investors as proper analysis is essential before making any decisions for portfolio diversification purposes or gain optimal dividend returns in longer run by holding it for longer periods.
Cardinal Health, Inc.: An Overview of Analyst Ratings and Institutional Investments
Cardinal Health, Inc. has been on the radar of several analysts and institutional investors over the past few months, with varying ratings and outlooks. In early February, Morgan Stanley and Credit Suisse Group both raised their target prices on Cardinal Health, while Deutsche Bank Aktiengesellschaft lowered theirs. StockNews.com assumed coverage on the company in mid-March, setting a “strong-buy” rating. Meanwhile, UBS Group gave Cardinal Health a “buy” rating and lifted their price objective in late January.
Institutional investors have also taken interest in Cardinal Health recently. BlackRock Inc. increased its holdings by nearly 26% in the third quarter of last year, while Amundi saw an 880% increase during the second quarter. Norges Bank acquired a new position worth over $220 million in the fourth quarter, and Moneta Group Investment Advisors LLC also made a significant investment during that time period. Nomura Holdings Inc. grew its stake in Cardinal Health by over 13,000% during Q3 of last year.
So what does Cardinal Health do? The company provides customized healthcare solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices — as well as medical products and pharmaceuticals — to enhance supply chain efficiency while reducing costs.
Cardinal Health released its quarterly earnings results at the beginning of February and reported earnings per share that exceeded analysts’ estimates by $0.19 per share — reaching $1.32 per share for that period. The company had revenue higher than anticipated: $51.47 billion compared to consensus analysis of $50.03 billion from qualified experts during Q4 of 2022.
The company has also announced that it will pay a quarterly dividend to stockholders on April 15th; dividends will be distributed at a rate of $0.4957 per share to stockholders of record on April 3rd who qualify for a dividend yield of 2.51%. Cardinal Health’s payout ratio is currently just over 36%.
Despite different perspectives on the future of Cardinal Health by analysts and investors alike, the company remains committed to cost-effectively and efficiently altering healthcare services and products for providers around the United States.