Cardinal Health’s (CAH) “Hold” Rating Reaffirmed at Needham & Company LLC
CAH has been the topic of several other reports. UBS AG restated a neutral rating and set a $76.00 price objective (down from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Credit Suisse Group restated an outperform rating and set a $87.00 price objective (up from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub downgraded shares of Cardinal Health from a buy rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Cardinal Health from a hold rating to a sell rating in a research report on Monday, August 7th. Finally, Cowen and Company restated a market perform rating and set a $77.00 price objective (down from $82.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Cardinal Health has a consensus rating of Hold and an average target price of $76.54.
Shares of Cardinal Health (NYSE CAH) traded down 2.07% during midday trading on Thursday, reaching $64.96. 3,742,252 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $67.26 and a 200-day moving average of $72.98. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 16.12 and a beta of 0.86. Cardinal Health has a one year low of $62.70 and a one year high of $84.88.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The firm had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. On average, equities research analysts anticipate that Cardinal Health will post $4.95 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be issued a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.85%. Cardinal Health’s dividend payout ratio is currently 45.79%.
Several large investors have recently modified their holdings of CAH. Bronfman E.L. Rothschild L.P. grew its stake in shares of Cardinal Health by 31.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after buying an additional 382 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Cardinal Health by 18.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after buying an additional 270 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Cardinal Health by 14.3% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after buying an additional 244 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Cardinal Health in the 2nd quarter worth $164,000. Finally, First Personal Financial Services grew its stake in shares of Cardinal Health by 127.5% in the 2nd quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock worth $172,000 after buying an additional 1,238 shares in the last quarter. 87.98% of the stock is owned by institutional investors and hedge funds.
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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