Share Repurchase Program Authorized by Cardinal Health (CAH)

Cardinal Health (NYSE:CAH) announced that its board has authorized a share repurchase plan, which allows the company to repurchase $1.00 billion in shares on Thursday, February 8th, EventVestor reports. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Cardinal Health (NYSE CAH) opened at $66.63 on Friday. The stock has a market cap of $20,960.00, a P/E ratio of 19.43, a P/E/G ratio of 1.49 and a beta of 0.95. 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 has a one year low of $54.66 and a one year high of $84.88.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.16. The business had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 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 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. equities analysts anticipate that Cardinal Health will post 5.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, April 2nd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.78%. Cardinal Health’s dividend payout ratio (DPR) is 53.94%.

A number of equities research analysts have recently weighed in on CAH shares. Morgan Stanley downgraded shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Mizuho set a $70.00 price target on shares of Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, October 24th. Deutsche Bank started coverage on shares of Cardinal Health in a research report on Monday, December 4th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and an average target price of $74.61.

In related news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the transaction, the chief executive officer now directly owns 211,849 shares of the company’s stock, valued at $15,655,641.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

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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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