Cardinal Health (NYSE:CAH) Stock Price Down 1.9%

Cardinal Health, Inc. (NYSE:CAHGet Free Report)’s share price dropped 1.9% during mid-day trading on Monday . The stock traded as low as $102.39 and last traded at $102.93. Approximately 487,574 shares traded hands during trading, a decline of 78% from the average daily volume of 2,239,420 shares. The stock had previously closed at $104.95.

Analyst Ratings Changes

A number of analysts have commented on the stock. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group boosted their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Barclays started coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price on the stock. Finally, Wells Fargo & Company started coverage on shares of Cardinal Health in a report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.38.

Get Our Latest Stock Report on CAH

Cardinal Health Stock Down 1.6 %

The firm’s 50-day moving average price is $104.38 and its two-hundred day moving average price is $97.19. The firm has a market capitalization of $25.12 billion, a PE ratio of 40.90, a P/E/G ratio of 0.94 and a beta of 0.69.

Cardinal Health (NYSE:CAHGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same period last year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Cardinal Health, Inc. will post 7.29 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, March 28th. Cardinal Health’s payout ratio is presently 78.74%.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 36,642 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $106.31, for a total value of $3,895,411.02. Following the completion of the sale, the chief executive officer now directly owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Cardinal Health

A number of institutional investors and hedge funds have recently modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of Cardinal Health by 110.9% in the 2nd quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock worth $154,000 after purchasing an additional 854 shares during the last quarter. Zurich Insurance Group Ltd FI raised its position in shares of Cardinal Health by 2,761.9% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 538,038 shares of the company’s stock valued at $50,882,000 after acquiring an additional 519,238 shares during the period. Summit X LLC raised its holdings in Cardinal Health by 6.8% during the 2nd quarter. Summit X LLC now owns 3,685 shares of the company’s stock worth $348,000 after buying an additional 234 shares during the period. Commonwealth Equity Services LLC raised its holdings in Cardinal Health by 9.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock worth $7,301,000 after buying an additional 7,174 shares during the period. Finally, Alberta Investment Management Corp raised its holdings in Cardinal Health by 4,446.0% during the 2nd quarter. Alberta Investment Management Corp now owns 209,116 shares of the company’s stock worth $19,776,000 after buying an additional 204,516 shares during the period. 86.01% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health

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Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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