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.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

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