Cardinal Health (CAH) PT Set at $72.00 by Jefferies Group
A number of other analysts have also recently weighed in on the company. ValuEngine cut Cardinal Health from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research raised Cardinal Health from a hold rating to a buy rating and set a $84.00 price objective for the company in a research report on Monday, January 29th. Mizuho set a $73.00 price objective on Cardinal Health and gave the stock a hold rating in a research report on Wednesday, January 24th. Robert W. Baird reissued a hold rating and issued a $80.00 price objective on shares of Cardinal Health in a research report on Wednesday, January 17th. Finally, Evercore ISI assumed coverage on Cardinal Health in a research report on Thursday, January 4th. They issued an in-line rating and a $67.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $75.84.
Shares of Cardinal Health (CAH) opened at $68.03 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. The firm has a market capitalization of $21,400.00, a price-to-earnings ratio of 11.83, a PEG ratio of 1.45 and a beta of 0.95. Cardinal Health has a 52-week low of $54.66 and a 52-week high of $84.88.
Cardinal Health announced that its Board of Directors has approved a share buyback program on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.4624 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.72%. Cardinal Health’s dividend payout ratio is currently 32.17%.
In other Cardinal Health news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the sale, the chief executive officer now owns 211,849 shares of the company’s stock, valued at approximately $15,655,641.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP lifted its position in Cardinal Health by 79.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,252,911 shares of the company’s stock worth $76,766,000 after acquiring an additional 554,365 shares during the period. Capital Investment Counsel Inc lifted its position in Cardinal Health by 34.2% during the 4th quarter. Capital Investment Counsel Inc now owns 4,530 shares of the company’s stock worth $278,000 after acquiring an additional 1,155 shares during the period. BancorpSouth Bank acquired a new stake in Cardinal Health during the 4th quarter worth about $2,072,000. Spark Investment Management LLC raised its stake in shares of Cardinal Health by 35.7% during the 4th quarter. Spark Investment Management LLC now owns 147,800 shares of the company’s stock valued at $9,055,000 after buying an additional 38,900 shares during the last quarter. Finally, Global Endowment Management LP raised its stake in shares of Cardinal Health by 11.4% during the 4th quarter. Global Endowment Management LP now owns 56,900 shares of the company’s stock valued at $3,486,000 after buying an additional 5,800 shares during the last quarter. 87.55% of the stock is owned by institutional investors.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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