Cardinal Health Inc. (CAH) Stock Rating Lowered by Cleveland Research
Cardinal Health Inc. (NYSE:CAH) was downgraded by Cleveland Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.
CAH has been the topic of several other research reports. Bank of America Corp. reiterated a “hold” rating and set a $90.00 price objective on shares of Cardinal Health in a research report on Monday, September 19th. Royal Bank Of Canada reissued a “buy” rating on shares of Cardinal Health in a report on Monday, June 13th. Deutsche Bank AG raised their target price on shares of Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Leerink Swann reissued a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. lowered shares of Cardinal Health from a “buy” rating to a “neutral” rating and cut their target price for the company from $90.00 to $83.00 in a report on Friday, September 16th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $94.76.
Cardinal Health (NYSE:CAH) traded up 0.21% during midday trading on Monday, reaching $76.56. 257,660 shares of the company were exchanged. The company has a 50-day moving average of $78.45 and a 200 day moving average of $80.18. Cardinal Health has a 52 week low of $73.25 and a 52 week high of $91.23. The firm has a market capitalization of $24.39 billion, a PE ratio of 17.72 and a beta of 0.64.
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Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The firm had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 earnings per share. Equities analysts predict that Cardinal Health will post $5.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be issued a $0.4489 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. Cardinal Health’s dividend payout ratio is presently 41.67%.
In other news, CEO George S. Barrett sold 129,818 shares of the business’s 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 sale, the chief executive officer now owns 510,762 shares in the company, valued at $42,781,425.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stuart G. Laws sold 9,703 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $82.45, for a total value of $800,012.35. Following the sale, the senior vice president now owns 2,718 shares in the company, valued at approximately $224,099.10. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of CAH. BB&T Securities LLC raised its stake in shares of Cardinal Health by 11.1% in the first quarter. BB&T Securities LLC now owns 32,001 shares of the company’s stock worth $2,622,000 after buying an additional 3,203 shares during the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Cardinal Health by 31.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 201,400 shares of the company’s stock worth $16,505,000 after buying an additional 48,100 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Cardinal Health by 14,265.3% in the first quarter. 1832 Asset Management L.P. now owns 271,505 shares of the company’s stock worth $37,273,000 after buying an additional 269,615 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Cardinal Health by 57.3% in the first quarter. Canada Pension Plan Investment Board now owns 953,633 shares of the company’s stock worth $78,150,000 after buying an additional 347,435 shares during the last quarter. Finally, Credit Agricole S A raised its stake in shares of Cardinal Health by 13.0% in the first quarter. Credit Agricole S A now owns 343,510 shares of the company’s stock worth $28,151,000 after buying an additional 39,523 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
Cardinal Health Company Profile
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.
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