Robert W. Baird restated their hold rating on shares of Cardinal Health, Inc. (NYSE:CAH) in a research note released on Sunday. The firm currently has a $73.00 price objective on the stock.

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.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

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