Cardinal Health, Inc. (CAH) Rating Reiterated by Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of Cardinal Health, Inc. (NYSE:CAH) in a research report sent to investors on Thursday morning. The brokerage currently has a $77.00 price objective on the stock.
Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Cardinal Health from a hold rating to a sell rating in a research note on Friday, April 28th. Credit Suisse Group reaffirmed a buy rating and set a $81.00 price target on shares of Cardinal Health in a research note on Tuesday, May 2nd. William Blair cut Cardinal Health from an outperform rating to a market perform rating in a research report on Wednesday, April 19th. Tigress Financial initiated coverage on Cardinal Health in a research report on Friday, April 28th. They set a neutral rating for the company. Finally, Evercore ISI upgraded Cardinal Health to an outperform rating in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the company. Cardinal Health currently has an average rating of Hold and an average target price of $82.99.
Shares of Cardinal Health (NYSE:CAH) opened at 77.61 on Thursday. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 18.53 and a beta of 0.81. Cardinal Health has a 12-month low of $62.70 and a 12-month high of $85.52. The stock’s 50 day moving average is $77.25 and its 200-day moving average is $77.19.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, May 1st. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. The business had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. Equities analysts anticipate that Cardinal Health will post $5.35 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd were issued a dividend of $0.4624 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s payout ratio is presently 44.05%.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of CAH. Advisory Services Network LLC purchased a new stake in shares of Cardinal Health during the first quarter worth about $120,000. JFS Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after buying an additional 244 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock worth $156,000 after buying an additional 116 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock worth $186,000 after buying an additional 41 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in shares of Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock worth $202,000 after buying an additional 256 shares during the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.
Cardinal Health Company Profile
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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