Investors bought shares of Cardinal Health Inc. (NYSE:CAH) on weakness during trading hours on Tuesday. $50.41 million flowed into the stock on the tick-up and $30.70 million flowed out of the stock on the tick-down, for a money net flow of $19.71 million into the stock. Of all equities tracked, Cardinal Health had the 30th highest net in-flow for the day. Cardinal Health traded down ($0.61) for the day and closed at $75.96

CAH has been the topic of several analyst reports. Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Morgan Stanley reiterated a “hold” rating and set a $91.00 price objective on shares of Cardinal Health in a report on Monday, September 12th. FBR & Co reiterated a “buy” rating on shares of Cardinal Health in a report on Monday, June 20th. Bank of America Corp. reiterated a “neutral” rating and set a $83.00 price objective on shares of Cardinal Health in a report on Tuesday, June 7th. Finally, Leerink Swann reiterated an “outperform” rating and set a $92.00 price objective on shares of Cardinal Health in a report on Monday, June 20th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $94.76.

The firm has a 50 day moving average price of $80.92 and a 200-day moving average price of $80.63. The company has a market capitalization of $24.20 billion, a price-to-earnings ratio of 17.58 and a beta of 0.59.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/investors-buy-cardinal-health-inc-cah-on-weakness.html

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The company had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $31.06 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts expect that Cardinal Health Inc. will post $5.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.4489 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.36%. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.

In other Cardinal Health news, CEO George S. Barrett sold 129,818 shares of Cardinal Health stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $83.76, for a total transaction of $10,873,555.68. Following the transaction, the chief executive officer now owns 510,762 shares of the company’s stock, valued at approximately $42,781,425.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Donald M. Jr. Casey sold 59,180 shares of Cardinal Health stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $83.59, for a total value of $4,946,856.20. Following the transaction, the chief executive officer now directly owns 164,803 shares in the company, valued at approximately $13,775,882.77. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CAH. Cohen & Steers Inc. raised its stake in shares of Cardinal Health by 36,541.4% in the second quarter. Cohen & Steers Inc. now owns 37,044,411 shares of the company’s stock valued at $980,195,000 after buying an additional 36,943,311 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cardinal Health by 3.4% in the first quarter. Wellington Management Group LLP now owns 33,248,030 shares of the company’s stock valued at $2,724,677,000 after buying an additional 1,108,446 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Cardinal Health by 114.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,520,106 shares of the company’s stock valued at $976,694,000 after buying an additional 6,681,725 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Cardinal Health by 12.5% in the second quarter. Macquarie Group Ltd. now owns 8,990,816 shares of the company’s stock valued at $701,373,000 after buying an additional 995,820 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Cardinal Health by 4.9% in the second quarter. BlackRock Fund Advisors now owns 4,770,431 shares of the company’s stock valued at $372,141,000 after buying an additional 222,666 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.

5 Day Chart for NYSE:CAH

Receive News & Ratings for Cardinal Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health Inc. and related companies with MarketBeat.com's FREE daily email newsletter.