Cardinal Health Inc. (CAH) Downgraded by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. downgraded shares of Cardinal Health Inc. (NYSE:CAH) from a buy rating to a neutral rating in a report issued on Friday morning. They currently have $83.00 price objective on the stock, down from their prior price objective of $90.00.
Other research analysts also recently issued reports about the stock. Deutsche Bank AG increased their price objective on shares of Cardinal Health from $83.00 to $89.00 and gave the company a hold rating in a research note on Thursday, August 4th. Leerink Swann reiterated a buy rating on shares of Cardinal Health in a research note on Wednesday, August 3rd. Bank of America Corp. reiterated a neutral rating and set a $83.00 price objective on shares of Cardinal Health in a research note on Tuesday, June 7th. FBR & Co reiterated a buy rating on shares of Cardinal Health in a research note on Monday, June 20th. Finally, Morgan Stanley reiterated a hold rating on shares of Cardinal Health in a research note on Wednesday, June 15th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $94.76.
Cardinal Health (NYSE:CAH) opened at 75.96 on Friday. The stock’s 50 day moving average is $80.92 and its 200-day moving average is $80.63. Cardinal Health has a 52 week low of $73.25 and a 52 week high of $91.23. The firm has a market capitalization of $24.20 billion, a price-to-earnings ratio of 17.58 and a beta of 0.59.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $31.06 billion. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts expect that Cardinal Health will post $5.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.4489 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.36%. Cardinal Health’s payout ratio is 41.67%.
In other Cardinal Health news, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $82.45, for a total transaction of $800,012.35. Following the transaction, the senior vice president now owns 2,718 shares of the company’s stock, valued at approximately $224,099.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George S. Barrett sold 129,818 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $83.76, for a total transaction of $10,873,555.68. Following the transaction, the chief executive officer now directly owns 510,762 shares in the company, valued at approximately $42,781,425.12. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in shares of Cardinal Health by 12.5% in the second quarter. Macquarie Group Ltd. now owns 8,990,816 shares of the company’s stock valued at $701,373,000 after buying an additional 995,820 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Cardinal Health during the second quarter valued at about $1,026,000. Kentucky Retirement Systems acquired a new position in shares of Cardinal Health during the second quarter valued at about $2,161,000. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Cardinal Health by 13.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 173,761 shares of the company’s stock valued at $13,555,000 after buying an additional 20,487 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new position in shares of Cardinal Health during the second quarter valued at about $3,423,000. 86.16% of the stock is currently owned by hedge funds and other institutional investors.
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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