Research analysts at Needham & Company LLC initiated coverage on shares of Cardinal Health Inc (NYSE:CAH) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.
Several other equities analysts have also recently commented on the company. Vetr cut Cardinal Health from a “hold” rating to a “sell” rating and set a $79.00 target price for the company. in a research note on Monday, February 27th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, February 10th. Leerink Swann set a $81.00 target price on Cardinal Health and gave the company a “hold” rating in a research note on Wednesday, February 8th. Finally, Mizuho cut Cardinal Health from a “buy” rating to a “neutral” rating and set a $79.00 target price for the company. in a research note on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $86.55.
Shares of Cardinal Health (NYSE:CAH) traded down 1.64% during midday trading on Tuesday, hitting $72.11. 1,602,505 shares of the stock traded hands. Cardinal Health has a 52-week low of $62.70 and a 52-week high of $87.33. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 17.36 and a beta of 0.71. The stock has a 50-day moving average of $81.14 and a 200-day moving average of $75.87.
Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, February 7th. The company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.11. The company earned $33.10 billion during the quarter, compared to analysts’ expectations of $33.63 billion. Cardinal Health had a return on equity of 25.52% and a net margin of 1.06%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 EPS. On average, equities analysts predict that Cardinal Health will post $5.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, April 15th. Stockholders of record on Monday, April 3rd were issued a dividend of $0.4489 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, March 30th. Cardinal Health’s dividend payout ratio (DPR) is 43.17%.
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In other news, Chairman George S. Barrett sold 217,994 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $77.23, for a total transaction of $16,835,676.62. Following the transaction, the chairman now directly owns 682,225 shares of the company’s stock, valued at $52,688,236.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CAH. Baupost Group LLC MA purchased a new position in Cardinal Health during the fourth quarter worth about $74,129,000. Parnassus Investments CA raised its position in Cardinal Health by 3.6% in the third quarter. Parnassus Investments CA now owns 370,500 shares of the company’s stock worth $28,788,000 after buying an additional 13,000 shares during the last quarter. Advisory Research Inc. raised its position in Cardinal Health by 61.8% in the fourth quarter. Advisory Research Inc. now owns 56,133 shares of the company’s stock worth $4,040,000 after buying an additional 21,449 shares during the last quarter. Victory Capital Management Inc. raised its position in Cardinal Health by 517.4% in the third quarter. Victory Capital Management Inc. now owns 1,723,529 shares of the company’s stock worth $133,918,000 after buying an additional 1,444,376 shares during the last quarter. Finally, Crawford Investment Counsel Inc. raised its position in Cardinal Health by 284.7% in the third quarter. Crawford Investment Counsel Inc. now owns 343,072 shares of the company’s stock worth $26,657,000 after buying an additional 253,895 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors.
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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