Cardinal Health’s (CAH) Hold Rating Reiterated at Needham & Company LLC
CAH has been the topic of a number of other research reports. UBS AG reiterated a neutral rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Credit Suisse Group restated an outperform rating and issued a $87.00 price objective (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub cut shares of Cardinal Health from a buy rating to a hold rating in a research report on Monday, July 24th. Jefferies Group LLC initiated coverage on shares of Cardinal Health in a research report on Wednesday, May 17th. They issued a hold rating and a $77.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Cardinal Health from a hold rating to a sell rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $79.58.
Shares of Cardinal Health (NYSE CAH) opened at 69.29 on Friday. The firm’s 50-day moving average is $69.10 and its 200-day moving average is $75.25. The company has a market cap of $21.93 billion, a PE ratio of 17.19 and a beta of 0.85. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $84.88.
Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. On average, equities research analysts predict that Cardinal Health will post $4.96 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s payout ratio is 45.79%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Intl Fcstone Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter valued at about $225,000. Lord Abbett & CO. LLC boosted its stake in shares of Cardinal Health by 22.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,233,000 shares of the company’s stock valued at $96,075,000 after purchasing an additional 223,914 shares in the last quarter. Farmers National Bank boosted its stake in shares of Cardinal Health by 1.9% during the 2nd quarter. Farmers National Bank now owns 4,902 shares of the company’s stock valued at $382,000 after purchasing an additional 90 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Cardinal Health by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 107,005 shares of the company’s stock valued at $8,336,000 after purchasing an additional 21,799 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after purchasing an additional 270 shares in the last quarter. 87.68% 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 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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