Cardinal Health Inc (NYSE:CAH) has received an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $61.67.

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their price objective on Cardinal Health from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, August 7th. Argus dropped their price objective on Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, July 16th. Royal Bank of Canada set a $60.00 price objective on Cardinal Health and gave the stock a “hold” rating in a report on Friday, September 21st. Mizuho restated a “hold” rating and set a $53.00 price objective on shares of Cardinal Health in a report on Sunday, August 12th. Finally, Morgan Stanley dropped their price objective on Cardinal Health from $55.00 to $40.00 and set an “underweight” rating on the stock in a report on Tuesday, July 3rd.

In other news, CEO Jon L. Giacomin sold 2,890 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the sale, the chief executive officer now directly owns 72,652 shares in the company, valued at approximately $3,774,271.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CAH. Signaturefd LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $100,000. Optimum Investment Advisors bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $128,000. Sentry Investment Management LLC bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $132,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $136,000. Finally, Exane Asset Management bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $153,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

CAH stock traded up $0.30 during midday trading on Wednesday, hitting $53.63. 2,548,500 shares of the company’s stock were exchanged, compared to its average volume of 3,285,803. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32. Cardinal Health has a 12-month low of $48.14 and a 12-month high of $75.75. The company has a market capitalization of $16.65 billion, a PE ratio of 10.74, a P/E/G ratio of 1.68 and a beta of 1.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Monday, August 6th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The company had revenue of $35.35 billion for the quarter, compared to the consensus estimate of $34.38 billion. During the same period in the previous year, the business earned $1.31 EPS. Cardinal Health’s revenue for the quarter was up 7.2% compared to the same quarter last year. sell-side analysts anticipate that Cardinal Health will post 5.03 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.55%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 28th. Cardinal Health’s payout ratio is 38.20%.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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