Cardinal Health Inc (NYSE:CAH) announced a quarterly dividend on Wednesday, February 7th, RTT News reports. Stockholders of record on Monday, April 2nd will be given a dividend of 0.4624 per share on Sunday, April 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.84%.
Cardinal Health has raised its dividend payment by an average of 12.2% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Cardinal Health has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cardinal Health to earn $5.86 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 31.6%.
Cardinal Health (NYSE:CAH) traded down $0.30 during trading hours on Wednesday, hitting $65.14. The stock had a trading volume of 3,381,530 shares, compared to its average volume of 3,030,000. The stock has a market capitalization of $20,490.00, a price-to-earnings ratio of 18.99, a PEG ratio of 1.46 and a beta of 0.95. Cardinal Health has a 52-week low of $54.66 and a 52-week high of $84.88. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 1.06.
In related news, CEO Michael C. Kaufmann sold 18,586 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total value of $1,373,505.40. Following the completion of the sale, the chief executive officer now owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.
A number of analysts have recently weighed in on CAH shares. Morgan Stanley lowered Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Argus lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Mizuho set a $70.00 price objective on Cardinal Health and gave the company a “hold” rating in a research note on Tuesday, October 24th. Deutsche Bank initiated coverage on Cardinal Health in a research note on Monday, December 4th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $74.61.
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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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