Cardinal Health (NYSE:CAH) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $4.90-5.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.01. Cardinal Health also updated its FY19 guidance to $4.90-5.15 EPS.
A number of brokerages have commented on CAH. Royal Bank of Canada set a $57.00 price target on shares of Cardinal Health and gave the company a hold rating in a research note on Friday. Zacks Investment Research cut shares of Cardinal Health from a hold rating to a sell rating in a research note on Tuesday, October 9th. Argus cut their target price on shares of Cardinal Health from $85.00 to $75.00 and set a buy rating for the company in a research note on Monday, July 16th. Robert W. Baird cut their target price on shares of Cardinal Health from $51.00 to $50.00 and set a neutral rating for the company in a research note on Tuesday, August 7th. Finally, Mizuho restated a hold rating and set a $53.00 target price on shares of Cardinal Health in a research note on Sunday, August 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $61.08.
Shares of NYSE CAH traded down $1.14 during mid-day trading on Friday, reaching $54.99. 84,589 shares of the company were exchanged, compared to its average volume of 3,880,410. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07. The stock has a market cap of $15.75 billion, a PE ratio of 11.00, a P/E/G ratio of 1.66 and a beta of 0.94. Cardinal Health has a twelve month low of $48.14 and a twelve month high of $75.75.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.4763 per share. This represents a $1.91 dividend on an annualized basis and a yield of 3.46%. Cardinal Health’s dividend payout ratio is 38.20%.
Cardinal Health declared that its board has approved a share repurchase program on Thursday, November 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, CEO Jon L. Giacomin sold 2,890 shares of Cardinal Health stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total transaction of $150,135.50. Following the sale, the chief executive officer now directly owns 72,652 shares in the company, valued at approximately $3,774,271.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.
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About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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