Cleveland Research Lowers Cardinal Health Inc. (CAH) to Neutral
Cardinal Health Inc. (NYSE:CAH) was downgraded by stock analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.
Other equities analysts have also issued research reports about the stock. Deutsche Bank AG increased their price target on shares of Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a research report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. FBR & Co reiterated a “buy” rating on shares of Cardinal Health in a research report on Monday, June 20th. Citigroup Inc. increased their target price on shares of Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Finally, Morgan Stanley reiterated a “hold” rating on shares of Cardinal Health in a research report on Wednesday, June 15th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $94.76.
Shares of Cardinal Health (NYSE:CAH) traded up 0.29% during midday trading on Monday, hitting $76.62. 232,650 shares of the company traded hands. The stock has a market capitalization of $24.41 billion, a PE ratio of 17.74 and a beta of 0.64. The stock 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.
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Cardinal Health (NYSE:CAH) last posted its quarterly 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. The company earned $31.40 billion during the quarter, compared to analyst estimates of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Equities analysts forecast that Cardinal Health will post $5.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be paid a $0.4489 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s dividend payout ratio is currently 41.67%.
In related news, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $82.45, for a total value of $800,012.35. Following the sale, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at $224,099.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald M. Jr. Casey sold 59,180 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $83.59, for a total transaction of $4,946,856.20. Following the completion of the sale, the chief executive officer now directly owns 164,803 shares in the company, valued at $13,775,882.77. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CAH. Acrospire Investment Management LLC acquired a new position in Cardinal Health during the first quarter valued at approximately $107,000. Integrated Investment Consultants LLC raised its position in Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock valued at $114,000 after buying an additional 195 shares during the period. JFS Wealth Advisors LLC raised its position in Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock valued at $137,000 after buying an additional 1,739 shares during the period. Advisory Services Network LLC raised its position in Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock valued at $152,000 after buying an additional 1,557 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock valued at $193,000 after buying an additional 530 shares during the period. 85.79% of the stock is currently owned by institutional investors and hedge funds.
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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