Cardinal Health, Inc. (NYSE:CAH) Plans $0.46 Quarterly Dividend
Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Wednesday, August 9th, RTT News reports. Investors of record on Monday, October 2nd will be paid a dividend of 0.4624 per share on Sunday, October 15th. This represents a $1.85 dividend on an annualized basis and a yield of 2.71%.
Cardinal Health has increased its dividend by an average of 13.1% annually over the last three years and has increased its dividend every year for the last 12 years. Cardinal Health has a payout ratio of 36.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Cardinal Health to earn $5.59 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 33.1%.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. During the same period last year, the firm earned $1.14 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.94% of the company’s stock.
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CAH has been the topic of a number of recent research reports. Tigress Financial began coverage on shares of Cardinal Health in a research note on Friday, April 28th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Vetr downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 target price for the company. in a research note on Thursday, June 1st. Credit Suisse Group restated a “buy” rating and issued a $81.00 target price on shares of Cardinal Health in a research note on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. Cardinal Health currently has an average rating of “Hold” and an average target price of $80.46.
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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