Cardinal Health Rating Lowered to Buy at ISI Group (CAH)
Cardinal Health (NYSE: CAH) was downgraded by analysts at ISI Group from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They currently have a $48.50 price target on the stock, down from their previous price target of $50.50.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James raised their price target on shares of Cardinal Health from $50.00 to $52.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Cardinal Health in a research note to investors on Tuesday. They now have a $47.00 price target on the stock, down previously from $49.00. Finally, analysts at Lazard Capital Markets downgraded shares of Cardinal Health from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday.
Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $49.72.
Cardinal Health (NYSE: CAH) opened at 42.35 on Wednesday. Cardinal Health has a 52-week low of $36.91 and a 52-week high of $47.23. The stock’s 50-day moving average is currently $45.58. The company has a market cap of $14.435 billion and a price-to-earnings ratio of 12.86.
Cardinal Health (NYSE: CAH) last announced its earnings results on Tuesday, February 5th. The company reported $0.93 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.86 by $0.07. The company had revenue of $22.75 million for the quarter, compared to the consensus estimate of $24.61 million. During the same quarter last year, the company posted $0.81 earnings per share. Cardinal Health’s revenue was down 6.8% compared to the same quarter last year. Cardinal Health has set its FY13 guidance at $3.42-3.50 EPS. On average, analysts predict that Cardinal Health will post $3.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.28 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Wednesday, March 27th.
Cardinal Health, Inc. (NYSE: CAH) is a global healthcare solutions company providing products and services to hospitals, physician offices and pharmacies.
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