BidaskClub lowered shares of Cardinal Health, Inc. (NYSE:CAH) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning.
CAH has been the subject of several other research reports. Credit Suisse Group cut their target price on shares of Cardinal Health from $87.00 to $81.00 and set an outperform rating for the company in a research note on Thursday, August 3rd. UBS AG reissued a neutral rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Cowen and Company reissued a market perform rating and issued a $77.00 target price (down previously from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of Cardinal Health from a hold rating to a sell rating in a research note on Monday, August 7th. Finally, Vetr raised shares of Cardinal Health from a hold rating to a buy rating and set a $77.92 target price for the company in a research note on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $80.46.
Cardinal Health (NYSE:CAH) traded up 0.21% during midday trading on Wednesday, hitting $66.15. 696,036 shares of the stock were exchanged. Cardinal Health has a one year low of $62.70 and a one year high of $84.88. The stock has a market cap of $20.93 billion, a P/E ratio of 16.41 and a beta of 0.80. The firm has a 50-day moving average price of $74.55 and a 200-day moving average price of $76.72.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the 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 quarter in the previous year, the company posted $1.14 EPS. On average, equities research analysts anticipate that Cardinal Health will post $4.97 EPS for the current fiscal year.
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The firm 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. This represents a $1.85 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is 45.79%.
Hedge funds have recently bought and sold shares of the stock. Alpha Windward LLC boosted its stake in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the period. HL Financial Services LLC boosted its stake in Cardinal Health by 0.3% in the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock valued at $969,000 after buying an additional 38 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in Cardinal Health by 0.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock valued at $353,000 after buying an additional 39 shares during the period. Security National Bank of Sioux City Iowa IA boosted its stake in Cardinal Health by 0.3% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,255 shares of the company’s stock valued at $1,033,000 after buying an additional 40 shares during the period. Finally, Wetherby Asset Management Inc. boosted its stake in Cardinal Health by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock valued at $654,000 after buying an additional 44 shares during the period. Institutional investors own 86.41% of the company’s stock.
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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