Cardinal Health Inc. (NYSE:CAH) has been assigned an average recommendation of “Buy” from the seventeen analysts that are covering the company. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $94.94.
Several equities analysts recently commented on the stock. Citigroup Inc. increased their target price on shares of Cardinal Health from $87.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Leerink Swann reaffirmed a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cardinal Health in a report on Monday, June 13th. Finally, Bank of America Corp. started coverage on shares of Cardinal Health in a report on Wednesday, June 8th. They issued a “hold” rating on the stock.
In other Cardinal Health news, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman George S. Barrett sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $83.63, for a total transaction of $20,907,500.00. Following the sale, the chairman now owns 510,762 shares of the company’s stock, valued at $42,715,026.06. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new stake in Cardinal Health during the first quarter worth $107,000. Integrated Investment Consultants LLC raised its stake in Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock worth $114,000 after buying an additional 195 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock worth $137,000 after buying an additional 1,739 shares in the last quarter. Advisory Services Network LLC raised its stake in Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock worth $152,000 after buying an additional 1,557 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock worth $193,000 after buying an additional 530 shares in the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
Shares of Cardinal Health (NYSE:CAH) traded up 0.86% during trading on Friday, hitting $77.56. 1,116,979 shares of the stock traded hands. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 17.95 and a beta of 0.59. The company has a 50 day moving average price of $79.59 and a 200 day moving average price of $80.38. Cardinal Health has a 12 month low of $73.25 and a 12 month high of $91.23.
Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ 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 had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. During the same quarter last year, the firm earned $1.00 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Analysts anticipate that Cardinal Health will post $5.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.4489 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. Cardinal Health’s dividend payout ratio is currently 41.67%.
About Cardinal Health
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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