Cardinal Health’s (CAH) “Hold” Rating Reiterated at Bank of America Corp.
CAH has been the topic of a number of other research reports. Royal Bank Of Canada reissued a buy rating on shares of Cardinal Health in a report on Monday, June 13th. Deutsche Bank AG raised their target price on shares of Cardinal Health from $83.00 to $89.00 and gave the stock a hold rating in a report on Thursday, August 4th. Raymond James Financial Inc. cut shares of Cardinal Health from an outperform rating to a market perform rating in a report on Wednesday, June 1st. Leerink Swann reissued a buy rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. cut Cardinal Health from a buy rating to a neutral rating and cut their price target for the company from $90.00 to $83.00 in a report on Friday, September 16th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $94.76.
Shares of Cardinal Health (NYSE:CAH) opened at 76.85 on Monday. The firm has a market cap of $24.48 billion, a PE ratio of 17.79 and a beta of 0.59. The company has a 50 day moving average price of $80.69 and a 200-day moving average price of $80.61. Cardinal Health has a 12-month low of $73.25 and a 12-month high of $91.23.
Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $31.06 billion. During the same quarter last year, the company posted $1.00 earnings per share. Cardinal Health’s revenue was up 13.9% on a year-over-year basis. Analysts expect that Cardinal Health will post $5.60 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be given a $0.4489 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.34%. Cardinal Health’s dividend payout ratio (DPR) is 41.67%.
In other Cardinal Health news, CEO George S. Barrett sold 20,428 shares of Cardinal Health stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $83.75, for a total transaction of $1,710,845.00. Following the transaction, the chief executive officer now directly owns 510,762 shares in the company, valued at approximately $42,776,317.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patricia Morrison sold 43,959 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $82.50, for a total transaction of $3,626,617.50. Following the transaction, the insider now owns 99,662 shares in the company, valued at $8,222,115. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Charlemagne Capital Ltd. boosted its position in Cardinal Health by 0.4% in the second quarter. Charlemagne Capital Ltd. now owns 2,527 shares of the company’s stock valued at $196,000 after buying an additional 10 shares during the last quarter. Bridgewater Wealth & Financial Management LLC boosted its position in Cardinal Health by 0.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 6,561 shares of the company’s stock valued at $512,000 after buying an additional 19 shares during the last quarter. Conning Inc. boosted its position in Cardinal Health by 0.3% in the second quarter. Conning Inc. now owns 7,980 shares of the company’s stock valued at $623,000 after buying an additional 20 shares during the last quarter. Synovus Financial Corp boosted its position in Cardinal Health by 0.5% in the second quarter. Synovus Financial Corp now owns 4,385 shares of the company’s stock valued at $346,000 after buying an additional 20 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division boosted its position in Cardinal Health by 0.6% in the second quarter. First Financial Bank N.A. Trust Division now owns 4,124 shares of the company’s stock valued at $322,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.
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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