Cardinal Health’s (CAH) Hold Rating Reiterated at Robert W. Baird
Several other analysts have also commented on the company. Needham & Company LLC reissued a hold rating on shares of Cardinal Health in a report on Sunday, September 10th. Jefferies Group LLC set a $77.00 price objective on Cardinal Health and gave the company a hold rating in a report on Tuesday, August 29th. BidaskClub lowered Cardinal Health from a sell rating to a strong sell rating in a report on Wednesday, August 16th. UBS AG reissued a neutral rating and issued a $76.00 price objective (down from $79.00) on shares of Cardinal Health in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Cardinal Health from a hold rating to a sell rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $76.81.
Cardinal Health (CAH) opened at 66.26 on Friday. The firm has a 50-day moving average price of $67.69 and a 200 day moving average price of $74.72. The company has a market capitalization of $20.97 billion, a P/E ratio of 16.44 and a beta of 0.85. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $84.88.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period last year, the business earned $1.14 earnings per share. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Cardinal Health will post $4.96 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be paid a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio is presently 45.79%.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cardinal Health by 1.9% in the second quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock worth $1,842,205,000 after acquiring an additional 440,967 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Cardinal Health by 6.5% in the second quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock worth $1,779,958,000 after acquiring an additional 1,398,496 shares during the last quarter. State Street Corp boosted its stake in shares of Cardinal Health by 1.1% in the first quarter. State Street Corp now owns 16,790,201 shares of the company’s stock worth $1,369,247,000 after acquiring an additional 176,331 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Cardinal Health by 72.1% in the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after acquiring an additional 2,632,836 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after acquiring an additional 1,895,089 shares during the last quarter. 87.63% of the stock is currently owned by hedge funds and other institutional investors.
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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