Cardinal Health Inc. (CAH) Downgraded by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lowered shares of Cardinal Health Inc. (NYSE:CAH) from a buy rating to a neutral rating in a research note published on Friday. They currently have $83.00 price target on the stock, down from their prior price target of $90.00.
A number of other analysts have also commented on the company. Morgan Stanley reissued a hold rating and issued a $91.00 target price on shares of Cardinal Health in a report on Monday, September 12th. Credit Suisse Group AG reissued a buy rating and issued a $97.00 target price on shares of Cardinal Health in a report on Tuesday, August 30th. Zacks Investment Research raised Cardinal Health from a sell rating to a hold rating in a report on Monday, August 8th. Deutsche Bank AG lifted their target price on Cardinal Health from $83.00 to $89.00 and gave the stock a hold rating in a report on Thursday, August 4th. Finally, Leerink Swann reissued a buy rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $94.76.
Shares of Cardinal Health (NYSE:CAH) opened at 76.85 on Friday. The company has a market capitalization of $24.48 billion, a price-to-earnings ratio of 17.79 and a beta of 0.59. The company’s 50 day moving average price is $80.69 and its 200-day moving average price is $80.61. Cardinal Health has a 1-year low of $73.25 and a 1-year high of $91.23.
Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The business earned $31.40 billion during the quarter, compared to analyst estimates of $31.06 billion. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. On average, equities analysts forecast that Cardinal Health will post $5.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be given a dividend of $0.4489 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.34%. Cardinal Health’s dividend payout ratio (DPR) is presently 41.67%.
In related news, CEO George S. Barrett sold 129,818 shares of Cardinal Health stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $83.76, for a total transaction of $10,873,555.68. Following the transaction, the chief executive officer now directly owns 510,762 shares in the company, valued at $42,781,425.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald M. Jr. Casey sold 59,180 shares of Cardinal Health stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $83.59, for a total value of $4,946,856.20. Following the transaction, the chief executive officer now owns 164,803 shares in the company, valued at $13,775,882.77. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Cardinal Health by 2.8% in the first quarter. Royal Bank of Canada now owns 1,927,963 shares of the company’s stock valued at $157,997,000 after buying an additional 52,912 shares during the period. Origin Asset Management LLP increased its position in shares of Cardinal Health by 75.1% in the first quarter. Origin Asset Management LLP now owns 377,381 shares of the company’s stock valued at $30,926,000 after buying an additional 161,881 shares during the last quarter. Aperio Group LLC increased its position in shares of Cardinal Health by 2.3% in the first quarter. Aperio Group LLC now owns 130,949 shares of the company’s stock valued at $10,731,000 after buying an additional 2,957 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cardinal Health by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 1,818,018 shares of the company’s stock valued at $148,985,000 after buying an additional 15,770 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Cardinal Health by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 79,709 shares of the company’s stock valued at $6,532,000 after buying an additional 18,517 shares during the last quarter. Institutional investors own 86.16% of the company’s stock.
Cardinal Health Company Profile
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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