Bank of America Corp. reiterated their hold rating on shares of Cardinal Health Inc. (NYSE:CAH) in a research note released on Monday. Bank of America Corp. currently has a $90.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of Cardinal Health in a research note on Wednesday, July 6th. Leerink Swann reaffirmed a buy rating on shares of Cardinal Health in a research note on Wednesday, August 3rd. Royal Bank Of Canada reaffirmed a buy rating on shares of Cardinal Health in a research note on Monday, June 13th. FBR & Co reaffirmed a buy rating on shares of Cardinal Health in a research note on Monday, June 20th. Finally, Credit Suisse Group AG reaffirmed a buy rating and issued a $97.00 price objective on shares of Cardinal Health in a research note on Tuesday, August 30th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $94.76.

Shares of Cardinal Health (NYSE:CAH) opened at 76.85 on Monday. The stock has a market capitalization of $24.48 billion, a PE ratio of 17.79 and a beta of 0.59. The firm has a 50-day moving average price of $80.69 and a 200-day moving average price of $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 issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The business earned $31.40 billion during the quarter, compared to analysts’ expectations of $31.06 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Cardinal Health will post $5.60 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a $0.4489 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, September 29th. Cardinal Health’s dividend payout ratio is currently 41.67%.

In related news, SVP Stuart G. Laws sold 9,703 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $82.45, for a total value of $800,012.35. Following the sale, the senior vice president now owns 2,718 shares in the company, valued at approximately $224,099.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman George S. Barrett sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $83.63, for a total value of $20,907,500.00. Following the completion of the sale, the chairman now owns 510,762 shares in the company, valued at approximately $42,715,026.06. The disclosure for this sale can be found here. 0.97% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake 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 worth $157,997,000 after buying an additional 52,912 shares in the last quarter. Origin Asset Management LLP boosted its stake in Cardinal Health by 75.1% in the first quarter. Origin Asset Management LLP now owns 377,381 shares of the company’s stock worth $30,926,000 after buying an additional 161,881 shares in the last quarter. Aperio Group LLC boosted its stake in Cardinal Health by 2.3% in the first quarter. Aperio Group LLC now owns 130,949 shares of the company’s stock worth $10,731,000 after buying an additional 2,957 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cardinal Health by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 1,818,018 shares of the company’s stock worth $148,985,000 after buying an additional 15,770 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Cardinal Health by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 79,709 shares of the company’s stock worth $6,532,000 after buying an additional 18,517 shares in the last quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.

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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