Investors Buy Shares of Cardinal Health, Inc. (NYSE:CAH) on Weakness
Traders bought shares of Cardinal Health, Inc. (NYSE:CAH) on weakness during trading hours on Monday. $41.80 million flowed into the stock on the tick-up and $23.94 million flowed out of the stock on the tick-down, for a money net flow of $17.86 million into the stock. Of all companies tracked, Cardinal Health had the 21st highest net in-flow for the day. Cardinal Health traded down ($0.22) for the day and closed at $66.76
CAH has been the subject of several analyst reports. 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 objective on shares of Cardinal Health in a research note on Tuesday, May 2nd. William Blair downgraded Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Tigress Financial initiated coverage on Cardinal Health in a research note on Friday, April 28th. They set a “neutral” rating for the company. Finally, Jefferies Group LLC initiated coverage on Cardinal Health in a research note on Wednesday, May 17th. They set a “hold” rating and a $77.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $80.46.
The stock has a market capitalization of $21.10 billion, a PE ratio of 16.57 and a beta of 0.80. The firm’s 50-day moving average is $75.30 and its 200-day moving average is $76.84.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The business had revenue of $32.97 billion during the quarter, compared to the consensus estimate of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, analysts predict that Cardinal Health, Inc. will post $4.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.77%. Cardinal Health’s dividend payout ratio is presently 45.79%.
A number of large investors have recently made changes to their positions in CAH. 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 valued at $1,842,205,000 after buying 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 valued at $1,779,958,000 after buying 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 valued at $1,369,247,000 after buying 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 valued at $489,613,000 after buying 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 valued at $482,391,000 after buying an additional 1,895,089 shares during the last quarter. 86.41% of the stock is currently owned by hedge funds and other institutional investors.
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About Cardinal Health
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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