Traders Buy Cardinal Health (CAH) on Weakness

Investors bought shares of Cardinal Health, Inc. (NYSE:CAH) on weakness during trading on Monday. $62.75 million flowed into the stock on the tick-up and $44.58 million flowed out of the stock on the tick-down, for a money net flow of $18.17 million into the stock. Of all companies tracked, Cardinal Health had the 17th highest net in-flow for the day. Cardinal Health traded down ($0.80) for the day and closed at $62.39

Several equities research analysts have recently commented on CAH shares. Jefferies Group set a $77.00 price target on shares of Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Sunday, September 10th. Robert W. Baird reaffirmed a “hold” rating and set a $73.00 price target on shares of Cardinal Health in a research report on Sunday, September 17th. Royal Bank of Canada started coverage on shares of Cardinal Health in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $72.00 price target for the company. Finally, Cowen raised shares of Cardinal Health to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Cardinal Health presently has an average rating of “Hold” and an average target price of $73.91.

The company has a market cap of $19,879.83, a price-to-earnings ratio of 11.99, a PEG ratio of 1.83 and a beta of 0.85. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52.

Cardinal Health (NYSE:CAH) last released its earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.09. The company had revenue of $32.64 billion during the quarter, compared to analyst estimates of $33.48 billion. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. equities research analysts predict that Cardinal Health, Inc. will post 4.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be issued a $0.4624 dividend. This represents a $1.85 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 29th. Cardinal Health’s dividend payout ratio is 53.78%.

Institutional investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $2,464,000. Victory Capital Management Inc. increased its holdings in Cardinal Health by 202.1% in the 2nd quarter. Victory Capital Management Inc. now owns 61,304 shares of the company’s stock worth $4,776,000 after acquiring an additional 41,013 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $164,000. Swiss National Bank increased its holdings in Cardinal Health by 1.6% in the 2nd quarter. Swiss National Bank now owns 1,152,648 shares of the company’s stock worth $89,814,000 after acquiring an additional 18,600 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in Cardinal Health by 7.9% in the 3rd quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock worth $2,912,000 after acquiring an additional 3,172 shares in the last quarter. 88.47% of the stock is owned by institutional investors.

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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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