Cleveland Research Lowers Cardinal Health Inc. (CAH) to Neutral
CAH has been the subject of a number of other reports. Bank of America Corp. reaffirmed a hold rating and issued a $90.00 target price on shares of Cardinal Health in a research note on Monday, September 19th. Royal Bank Of Canada reiterated a buy rating on shares of Cardinal Health in a research report on Monday, June 13th. Deutsche Bank AG lifted their price target on shares of Cardinal Health from $83.00 to $89.00 and gave the stock a hold rating in a research report on Thursday, August 4th. Leerink Swann reiterated a buy rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. cut shares of Cardinal Health from a buy rating to a neutral rating and lowered their price target for the stock from $90.00 to $83.00 in a research report on Friday, September 16th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $94.76.
Shares of Cardinal Health (NYSE:CAH) opened at 75.79 on Monday. The firm has a 50-day moving average of $77.92 and a 200-day moving average of $80.06. The stock has a market cap of $24.15 billion, a P/E ratio of 17.54 and a beta of 0.63. Cardinal Health has a 52-week low of $73.25 and a 52-week high of $91.23.
Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share 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 company earned $31.40 billion during the quarter, compared to the consensus estimate of $31.06 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Cardinal Health will post $5.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be given a $0.4489 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s dividend payout ratio is presently 41.67%.
In other news, insider Patricia Morrison sold 43,959 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $82.50, for a total value of $3,626,617.50. Following the sale, the insider now owns 99,662 shares of the company’s stock, valued at $8,222,115. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Stuart G. Laws sold 9,703 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $82.45, for a total transaction of $800,012.35. Following the completion of the sale, the senior vice president now directly owns 2,718 shares in the company, valued at approximately $224,099.10. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Charlemagne Capital Ltd. raised its stake in shares of Cardinal Health by 0.4% in the second quarter. Charlemagne Capital Ltd. now owns 2,527 shares of the company’s stock worth $196,000 after buying an additional 10 shares in the last quarter. Bridgewater Wealth & Financial Management LLC raised its stake in shares of Cardinal Health by 0.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 6,561 shares of the company’s stock worth $512,000 after buying an additional 19 shares in the last quarter. Conning Inc. raised its stake in shares of Cardinal Health by 0.3% in the second quarter. Conning Inc. now owns 7,980 shares of the company’s stock worth $623,000 after buying an additional 20 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Cardinal Health by 0.5% in the second quarter. Synovus Financial Corp now owns 4,385 shares of the company’s stock worth $346,000 after buying an additional 20 shares in the last quarter. Finally, First Financial Bank N.A. Trust Division raised its stake in shares of 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 worth $322,000 after buying an additional 25 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.
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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