Cardinal Health Inc Announces Quarterly Dividend of $0.46 (CAH)

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.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $32.64 billion during the quarter, compared to analyst estimates of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. equities research analysts forecast that Cardinal Health will post 5.17 EPS for the current fiscal year.

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.

Dividend History for Cardinal Health (NYSE:CAH)

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