Cardinal Health Hits New 52-Week High at $74.70 (CAH)
Cardinal Health (NYSE:CAH)’s share price reached a new 52-week high during mid-day trading on Wednesday , Analyst Ratings Network reports. The stock traded as high as $74.70 and last traded at $74.49, with a volume of 703,213 shares. The stock had previously closed at $73.83.
CAH has been the subject of a number of recent research reports. Analysts at Argus reiterated a “buy” rating on shares of Cardinal Health in a research note on Monday, August 18th. They now have a $71.43 price target on the stock, down previously from $83.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 5th. They now have a $82.00 price target on the stock, up previously from $77.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, August 5th. They now have a $80.00 price target on the stock, up previously from $76.00. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $77.93.
The stock’s 50-day moving average is $71.87 and its 200-day moving average is $69.97. The company has a market cap of $25.087 billion and a P/E ratio of 21.85.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, August 4th. The company reported $0.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.81 by $0.02. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $21.88 billion. During the same quarter last year, the company posted $0.79 earnings per share. Cardinal Health’s revenue was down 9.9% compared to the same quarter last year. On average, analysts predict that Cardinal Health will post $4.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Monday, September 29th.
In other Cardinal Health news, CFO Jeffrey William Henderson unloaded 26,567 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $72.63, for a total transaction of $1,929,561.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Cardinal Health, Inc is a healthcare services company providing pharmaceutical and medical products and services to pharmacies, hospitals, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.
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