Morningstar Issues A Credit Rating to Cardinal Health (CAH)
Cardinal Health (NYSE:CAH) has received an “A” credit rating from analysts at Morningstar. The agency’s “A” rating suggests that the company is a low default risk. They also issued a neutral credit outlook for the company and gave their stock a two star rating.
A number of other firms have also recently commented on CAH. 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Cardinal Health presently has an average rating of “Buy” and an average price target of $77.93.
Cardinal Health (NYSE:CAH) opened at 74.37 on Thursday. Cardinal Health has a 52-week low of $49.65 and a 52-week high of $74.70. The stock has a 50-day moving average of $71.97 and a 200-day moving average of $70.00. The company has a market cap of $25.037 billion and a price-to-earnings ratio of 21.85.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts expect that Cardinal Health will post $4.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Monday, September 29th.
In other Cardinal Health news, CFO Jeffrey William Henderson sold 26,567 shares of the company’s stock on the open market 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 transaction was disclosed in a legal filing 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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