Cardinal Health, Inc. (NYSE:CAH) Given Average Rating of “Hold” by Brokerages
Cardinal Health, Inc. (NYSE:CAH) has been given an average rating of “Hold” by the twenty-two research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $83.35.
CAH has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Credit Suisse Group restated a “buy” rating and issued a $81.00 price target on shares of Cardinal Health in a research note on Tuesday, May 2nd. William Blair downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Tigress Financial started coverage on shares of Cardinal Health in a research note on Friday, April 28th. They issued a “neutral” rating on the stock. Finally, Jefferies Group LLC started coverage on shares of Cardinal Health in a research note on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price target on the stock.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.94% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of Cardinal Health during the first quarter worth about $120,000. Quadrant Capital Group LLC raised its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock worth $156,000 after buying an additional 116 shares during the period. Alpha Windward LLC raised its position in Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock valued at $186,000 after buying an additional 41 shares during the last quarter. MCF Advisors LLC raised its position in Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock valued at $202,000 after buying an additional 256 shares during the last quarter. Finally, First Mercantile Trust Co. raised its position in Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock valued at $207,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.
Cardinal Health (CAH) traded down 1.33% during mid-day trading on Friday, reaching $76.29. 2,052,733 shares of the company’s stock traded hands. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $85.52. The firm has a 50 day moving average of $76.85 and a 200 day moving average of $77.11. The firm has a market cap of $24.10 billion, a PE ratio of 18.21 and a beta of 0.81.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Monday, May 1st. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The company had revenue of $31.82 billion for the quarter, compared to analyst estimates of $32.30 billion. Cardinal Health had a net margin of 1.05% and a return on equity of 25.78%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 earnings per share. Analysts forecast that Cardinal Health will post $5.35 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd were issued a $0.4624 dividend. The ex-dividend date was Thursday, June 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s dividend payout ratio is 44.05%.
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Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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