Needham & Company LLC reissued their hold rating on shares of Cardinal Health, Inc. (NYSE:CAH) in a research note released on Sunday morning.

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.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

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